Coursework.Info - Inspiration in an Instant

On the left is an image preview of every page of this document, and below are the first 150 words with formatting removed:

1. Introduction While lenders would seek to include as many assets of the company as possible within the domain of a fixed charge, they also need to allow the company to trade as freely as possible. It would not be in the interests of either party if the company becomes so constrained that its efficiency is substantially impaired. National Westminster Bank plc v Spectrum Plus Ltd [2005] 3WLR 58 has shown that it is not always practically achievable for lenders to seek the best of both worlds i.e. a fixed charge on the book debts while allowing the company the same freedom to use the proceeds. The case is significant as it finally provides legal certainty over the distinction between fixed and floating charges. 2. Fixed and Floating Charges A fixed charge is generally a charge over assets of the company which are ascertained and definite, or capable of being ascertained and defined.1 Under a...

Get instant access

• Instant, unlimited access to our documents in full
• Swap your work for free access, or pay £4.99
• To see the full version of this document and 146,186 others

OR

Receive email updates for this category

• Simply tell us your email address and receive a weekly Study Help Email for FREE
• Receive 3 FREE essay views with each email
• Get all the latest essays from Coursework.Info & discussion from TheStudentRoom.co.uk