Commentary

Ranking of Floating Charges Inter Se and in Relation to Fixed Securities

Part XII Financial Difficulties
| Commentary

Ranking of Floating Charges Inter Se and in Relation to Fixed Securities

| Commentary

A fixed security arising by operation of law has priority over a floating charge.1 In the absence of a 'ranking agreement' between the company and the holders of any securities that would be adversely affected (discussed below) or a provision in a floating charge restricting the creation of any security having

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