Company Law: Loan Capital – ACCA LW Global
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Hi Mike,
thanks for your lecture. Regarding the fixed charges topic, maybe i cannot head clearly of the sentence you mentioned, may you help to finish the sentence?
“if fixed charged is created within 12 months prior to company liquidation in favor of connected person (director, director children, spouse), liquidator has strong argument to get rid of … “
‘…. it’
Essentially, a fixed charge in favour of a connected person has a strong smell of fraudulent preference so a liquidator can challenge the validity of such a charge and ask the Court to ‘… get rid of it’ (That’s pretty non-technical language for ‘… set it aside’
Better?
Dear Mike, thank you for your lectures.
Don’t you consider Ukraine as separate country? Or you think that Ukraine is just a region? One way or another, please do not use “the” with the name of this country.
Wish you all the best!
The habitant of ”the” Eastern Europe.
Maybe Mike was thinking along the lines of The United Kingdom and The United States!
In which case, the floating charge can be prioritized over fixed charge?