| 31. | They provide him with his cash flow and as such are the natural subjects of a floating charge.
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| 32. | But unlike a fixed charge, a floating charge need not refer to a specific asset of the company.
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| 33. | To find the consent in question in the original agreement would turn every floating charge into a fixed charge.
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| 34. | By statute floating charge holders are subordinated to preferred creditors, although under complex rules still rank ahead of liquidator's claims.
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| 35. | Floating charges take effect in " bona fide " purchaser for value without notice of any asset covered by them.
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| 36. | When there is a floating charge, the legislature no longer regards the property as belonging wholly to the debenture holder.
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| 37. | In deciding whether a charge is a fixed charge or a floating charge, the Court is engaged in a two-stage process.
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| 38. | Generally speaking, a floating charge is only potentially vulnerable if it is entered into within the vulnerability period under applicable law.
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| 39. | In the US, a small importer of motorcycles often receives credit via a floating charge over the number of motorbikes financed.
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| 40. | If a company had granted a floating charge the court may not make an administration order without the consent of the holder.
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