Float like a butterfly...
Joanne Rumley looks at the ongoing implications of Brumark on clearing banks' abilities to take a fixed charge on book debts
The Privy Council ‘Brumark’ decision, or to give it its proper name Richard Dale Agnew and Kevin James Bearsley v The Commissioner of the Inland Revenue and Official Assignee for the estate in bankruptcy of Bruce William Birtwhistle and Mark Leslie Birtwhistle, delivered on 5 June 2001, sent shock waves through the banking and insolvency world.
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