The Weekly Law Reports
[1993] 3 WLR 14
[CHANCERY DIVISION]
In re
PORTBASE CLOTHING LTD.
1992 Oct. 27,
28,
29;
Dec. 15
Dec. 15
Chadwick J.
Company
— Debenture
— Floating charge on assets
— Agreement subordinating prior fixed charge to subsequent floating charge
— Crystallisation of floating charge prior to liquidation of company
— Company's assets insufficient to meet all claims
— Priority between preferential creditors and floating chargees
— Whether liquidation expenses payable in priority to preferential creditors
—
Insolvency Act 1986 (c. 45), ss. 115, 175(2)(b)
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