Abstract:
CHARGES OVER BOOK DEBTS: THE END OF AN ERA Re Spectrum Plus Despite Romer LJ’s classic statement identifying the usual characteristics of a floating charge, 1 it has long been clear that the essential difference between a fixed and a floating charge turns upon the extent to which the chargor is free to deal with the charged assets in the ordinary course of business. 2 As the nature of the charged property is not essential to the characterization of the charge, 3 the recognition that a lender may take a fixed charge over a company’s book debts is unobjectionable. ...
