The Weekly Law Reports
[2004] 3 WLR 503
Court of Appeal
In re
Spectrum Plus Ltd (in liquidation)
[2004] EWCA Civ 670
2004 April 5,
6;
May 26
May 26
Lord Phillips of Worth Matravers MR, Jonathan Parker and Jacob LJJ
Company
— Debenture
— Charge over book debts
— Charge expressed to be “by way of specific charge” prohibiting disposal of book debts and requiring proceeds to be paid into account with chargee bank
— Bank permitting company to draw proceeds of debts from account to use in course of business subject to restrictions
— Whether charge fixed or floating
Judicial precedent
— Court of Appeal decision
— How far binding
— Court of Appeal authority disapproved by Privy Council
— Whether Court of Appeal authority binding