Floating - Law Dictionary Search Results
Home Dictionary Name: floatingFloating charge
Floating charge. This term is not a legal term, but it is well understood and is used in Acts of Parliament, e.g., the (English) Finance Act, 1915, s. 27, and may be said to denote a security which is an equitable charge on the assets for the time being of a going concern. It allows of the business being carried on and the property comprised in it being dealt with in the ordinary course of business, until the undertaking charged ceases to be a going concern, or until the creditor in some way or other intervenes, See Government Stock, etc., Co. v. Manila Ry. Co., 1897 AC 86, per Lord Macnaghten.The charge becomes fixed and enforceable by the charges as soon as the company goes into liquidation, even for the purpose of reconstruction [Crompton & Co., 1914, 1 Ch 954]. Under the (English) Companies Act, 1929, s. 88, all floating charges must be registered in the Register of Charges.The subsidiary shares, rather than circulating in the ordinary course of the claimant's business, are part of...
Floating
Buoyed upon or in a fluid a the floating timbers of a wreck floating motes in the air...
Floating assets
Floating assets, where there is a fixed charge over assets, such as the subsidiary shares, the fact that the charger is entitled to enjoy the fruits of the asset, such as the distribution rights, should not lead to the charge as it covers those assets being characterized as floating, Atlantic Computer System Plc (in re:), (1992) Ch 505. See also Arthur D Little Ltd. (in administration) v. Ableco Finance LLC, (2003) LR 217 (Ch): (2002) EWHC 701 (Ch)....
float
float 1 : an amount of money represented by checks outstanding and in process of collection 2 : the time between a transaction (as the writing of a check or a purchase on credit) and the actual withdrawal of funds to cover it vi of a currency : to find a level in the international exchange market in response to the law of supply and demand and without any restrictive effect of artificial support or control vt 1 : to place (an issue of securities) on the market 2 : to obtain money for the establishment or development of (an enterprise) by issuing and selling securities 3 : negotiate [ a loan] ...
floating
floating 1 : not presently committed or invested [ capital] 2 : short-term and usually not funded [ debt] 3 : having no fixed value or rate [ currencies] [ interest rates] ...
floating lien
floating lien see lien ...
floating policy
floating policy : floater ...
floating rate note
floating rate note see note ...
floating zone
floating zone : a zone that is to be used for a designated purpose and that is approved as to particular characteristics (as size and type of buildings) but whose location is to be determined in the future ...
Float
Anything which floats or rests on the surface of a fluid as to sustain weight or to indicate the height of the liquid surface or mark the place of something...
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