Abstract

http://ssrn.com/abstract=593448
 
 

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Charges over Chattels - Issues in the Fixed/Floating Jurisprudence


Stephen Atherton


Chambers of Michael Crystal QC

Riz Mokal


University College London (UCL) - Faculty of Laws; World Bank Global Initiative on insolvency and Creditor/Debtor Regimes; 3-4 South Square Chambers

September 2004


Abstract:     
This practitioner-oriented paper provides a comprehensive synthesis of the factors identified in English case-law as relevant to the somewhat neglected question whether a charge over chattels is fixed or floating. The paper also conducts an exhaustive analysis of the situations in which a court might examine post-contractual conduct in order to answer this question. Further,

(a) it derives a test from the recent judgment in Ashborder BV v Green Gas Power Limited [2004] EWHC 1517 to ascertain whether particular assets subject to a charge are capable, in their nature, of being disposed of in the ordinary course of the debtor's business,

(b) it examines and criticises the problematic decision in Re Cimex Tissues Limited [1995] 1 BCLC 409 in the light of Holroyd v Marshall (1862) 10 HL Cas 191 et al, and

(c) in the context set by the Privy Council's advice in Re Goldcorp Exchange Limited (in receivership) [1995] 1 AC 74, it highlights the importance of identifying with sufficient specificity assets intended to be subjected to a fixed charge.

Number of Pages in PDF File: 17

Keywords: Agnew, Brumark

JEL Classification: K11, K22, G21, G33

working papers series


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Date posted: September 28, 2004  

Suggested Citation

Atherton, Stephen and Mokal, Riz, Charges over Chattels - Issues in the Fixed/Floating Jurisprudence (September 2004). Available at SSRN: http://ssrn.com/abstract=593448 or http://dx.doi.org/10.2139/ssrn.593448

Contact Information

Stephen Atherton
Chambers of Michael Crystal QC ( email )
3/4 South Square
Gray's Inn
London WC1R 5HP
United Kingdom
Riz Mokal (Contact Author)
University College London (UCL) - Faculty of Laws ( email )
London WC1E OEG
United Kingdom
+44 - (0)20 - 7679 1406 (Phone)
+44 - (0)20 - 7679 1461 (Fax)
HOME PAGE: http://www.ucl.ac.uk/laws/
World Bank Global Initiative on insolvency and Creditor/Debtor Regimes
The World Bank
1818 H St NW
Washington, DC 20433
United States
3-4 South Square Chambers ( email )
3/4 South Square
Gray's Inn
London, WC1R 5HP
United Kingdom
HOME PAGE: http://www.southsquare.com/
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