Glossary of Terms
Bankruptcy / Proposal / Financial Glossary |
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| floating charge | A type of security interest that charges the debtor's property but does not specify particular assets or pieces of equipment until the security interest or instrument is crystallized. The charge hovers over the property and the debtor is entitled to deal with the property in the normal course of business, until default occurs and the creditor takes action to enforce the security and convert the floating charge into a fixed charge. |
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