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Sir, could you please help me. In my Exam kit there is a question:
Identify order of debts in order of priority:
1)Borrowing secured by fixed charge . Charge created on Apr 1 and registered Apr. 20
2)Borrowing secured by fixed charge. Charge created on Apr. 5 and registered Apr. 15In my Kit the right answer is : 1) then 2)
But from your lecture I understood that the registration date should be considered, that is the charge registered first has a priority. What is the right answer?And what if there are floating charges where one of them is created first and registered later, the second created later and registered first?
Thank you so much
Apparently it is the date of creation – the lecture is out of date but I believe that subsequent test questions and mcqs written by me are correct
Date of registration (both for floaters and fixed) is secondary to date of creation
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