Banking and Finance: Throwing the book
Finding a form of charge over book debts that suits the both the lender and the borrower seemed possible after a series of cases. But a recent decision has thrown it into doubt. Andrew Seager reports
The search for a form of charge over book debt that gives fixed security, but which enables the company to retain control of its cash flow has led to a series of cases where a viable method appears to be established, only to be demolished a few years later.
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