Fixed and floating charges—key cases


Published by a ³ÉÈËÓ°Òô Banking & Finance expert
Practice notes

Fixed and floating charges—key cases


Published by a ³ÉÈËÓ°Òô Banking & Finance expert

Practice notes
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This Practice Note sets out certain key cases and associated relevant content in relation to fixed and floating charges. The cases are divided by topic area and include:

  1. •

    The distinctive nature of fixed and floating charges

  2. •

    Issues for the lender of a fixed versus a floating charge

  3. •

    crystallisation of floating charges

  4. •

    Qualifying Floating charges

The distinctive nature of fixed and floating charges

Names of partiesJudgment dateCase summaryRelevant content
Re Yorkshire Woolcombers Association [1903] 2 Ch 2843 April 1903This case set out the classic criteria for determining a charge to be a floating charge. ie: (i) it is a charge on a class of assets of a company present and future; (ii) the class of assets is one that, in the ordinary course of the company business, will change from time to time; and (iii) it is contemplated that, until some future step is taken by or on behalf of those interested in the charge, the company may carry on its business in the ordinary
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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Crystallisation definition
What does Crystallisation mean?

Refers to commencement of pension benefit payments from all or part of a pension scheme, as income and/or lump sum. Crystallising defined contribution benefits can trigger the money purchase annual allowance.

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