Floating charge

The floating charge is in English property law a securing means for a claim. The floating charge is in the economy of the common securing means, however, only one company can act as a guarantor: individuals or a partnership it is denied ( Exception: Limited Liability Partnership ). It is arising out of a legal practice Institute and was recognized by the Court for the first time in 1871; legislation almost do not exist today.

Collateral of the floating charge is not a single law or a single object: With the floating charge may rather the entire present and future corporate assets ( or part thereof ) will be charged. However, the guarantor may continue in the ordinary course of business have all the goods and rights; a buyer will therefore receive no loaded right or property. The collateral effect of the floating charge only affects me in the crystal lization, ie the particular condition on the purpose, and the floating charge is converted into a fixed charge. In order to enforce a fixed charge receiver (~ official receiver ) is then ordered. This can also be appointed as receiver and manager and is then entitled to continue business operations.