Floating - Law Dictionary Search Results

The charge created by debentures as a rule is fixed on the company's property or by way of floating charge. If fixed, the remedies upon default are those available to mortgagees and those stipulated for and endorsed

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Winding-up

preferential payments and (if the company is registered in England) postpones the claims of debenture holders under any floating charge created by the company, but only so far as the assets are insufficient to meet the claims

By way of specific charge

that without more fastens on ascertained and definite property or property capable of being ascertained and defined, a floating charge, on the other hand, is ambulatory and shifting in its nature, hovering over and so to speak

floater

damage of goods in transit or goods (as jewels) naturally subject to use in various places called also floating policy 2 : a debt security that yields an indexed variable rate of interest ;esp : floating rate