Fixed and floating charges : the latest conflicting law and how to address the gaps

Thai, Lang 2007, Fixed and floating charges : the latest conflicting law and how to address the gaps, in Papers presented at the 2007 Corporate Law Teachers Conference (Deakin University, Melbourne) 4-6 February Corporate Law and Corporate Governance: Stocktaking on Compliance and Enforcement, Corporate Law Teacher's Association, Melbourne, Vic..


Title Fixed and floating charges : the latest conflicting law and how to address the gaps
Author(s) Thai, Lang
Conference name Corporate Law Teachers Association Conference (17th : 2007 : Melbourne, Vic.)
Conference location Melbourne, Vic.
Conference dates 4-6 Feb. 2007
Title of proceedings Papers presented at the 2007 Corporate Law Teachers Conference (Deakin University, Melbourne) 4-6 February Corporate Law and Corporate Governance: Stocktaking on Compliance and Enforcement
Publication date 2007
Publisher Corporate Law Teacher's Association
Place of publication Melbourne, Vic.
Summary Can book debts be subject to a fixed charge? This question was considered by the House of Lords in National Westminster Bank v. Spectrum Plus Limited [2005] UKHL 41 where the full House was against the idea of a fixed charge on book debts and insisted that only a floating charge had been created. The law in this area is still vague and uncertain in Australia. This paper argues that the financiers and the companies should be given the freedom to decide how they wish to structure their charge documents. The paper sets out to argue that, in respect to the use of book debts as security for a loan, the only way for both the financiers and the companies to do business is to create a sustained workable fixed charge or even multiple fixed and floating charge on book debts. The author explains how this could be possible and how the proposed model would not deny the statutory priority rights of the preferential creditors.
Language eng
Field of Research 180109 Corporations and Associations Law
Socio Economic Objective 940405 Law Reform
HERDC Research category E2 Full written paper - non-refereed / Abstract reviewed
Persistent URL http://hdl.handle.net/10536/DRO/DU:30014879

Document type: Conference Paper
Collection: School of Law
Connect to link resolver
 
Unless expressly stated otherwise, the copyright for items in DRO is owned by the author, with all rights reserved.

Versions
Version Filter Type
Access Statistics: 421 Abstract Views  -  Detailed Statistics
Created: Tue, 21 Oct 2008, 14:28:14 EST

Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.