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Priority between floating charge & fixed charge

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Priority between floating charge & fixed charge

  • This topic has 3 replies, 2 voices, and was last updated 5 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
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    Posts
  • May 30, 2020 at 5:05 pm #572369
    qilianm
    Participant
    • Topics: 22
    • Replies: 12
    • ☆

    Hi Mike,

    If a floating charge was created before a fixed charge, who would have the priority when it comes to liquidation? Thank you.

    May 31, 2020 at 9:22 am #572406
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23361
    • ☆☆☆☆☆

    Fixed

    So protect yourself with a negative pledge clause in the floating charge contract

    May 31, 2020 at 1:12 pm #572420
    qilianm
    Participant
    • Topics: 22
    • Replies: 12
    • ☆

    Thank you.

    May 31, 2020 at 4:18 pm #572445
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23361
    • ☆☆☆☆☆

    You’re very welcome

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