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Can limited liability partnerships develop floating charges, and whether fixed charges can be developed by both general/ordinary partnerships and limited liability partnerships.
Fixed charges can be created by anyone – you, me, our partnership, our company
Floating charges may only be created by companies. Individuals are not able to secure their debts by way of floating charge. So you can’t and not can I. And because partnerships are not separate people in law, an amalgamation of individuals (the partnership) is equally prevented from securing debts by way of floating charge
OK?
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