The Weekly Law Reports
[2005] 3 WLR 58
House of Lords
In re
Spectrum Plus Ltd (in liquidation)
[2005] UKHL 41
2005 April 25,
26,
27,
28;
June 30
June 30
Lord Nicholls of Birkenhead, Lord Steyn, Lord Hope of Craighead, Lord Scott of Foscote, Lord Walker of Gestingthorpe, Baroness Hale of Richmond and Lord Brown of Eaton-under-Heywood
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
— House of Lords decision
— Effect
— House of Lords overruling previous decision of lower court
— Whether jurisdiction to overrule prospectively only