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floating charge

British

noun

an unsecured charge on the assets of an enterprise that allows such assets to be used commercially until the enterprise ceases to operate or the creditor intervenes to demand collateral

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

This "floating charge" would become hugely significant in the story of Rangers' takeover by Craig Whyte and eventual insolvency.

From BBC • Feb. 15, 2012

This meant he enjoyed the legal protection of the "floating charge" and as Rangers' largest secured creditor would be paid first in the event of any insolvency.

From BBC • Feb. 15, 2012

In the debenture the security is a floating charge.

From Encyclopaedia Britannica, 11th Edition, Volume 7, Slice 10 "David, St" to "Demidov" by Various

The Floating Debenture.—The form of debenture chiefly in use at the present day is that secured by a floating charge.

From Encyclopaedia Britannica, 11th Edition, Volume 7, Slice 10 "David, St" to "Demidov" by Various

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023