129:. It required Siebe Gorman to pay the proceeds of its book debts into a Barclays Bank account, and prohibited Siebe Gorman from creating any other charges on those book debts, or assigning the book debts to anyone else. So there was a prohibition on dealing with the book debts before collection of them. Barclays also had the right to obtain absolute control by giving notice, but that right was never exercised.
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case, concerning the definition of a floating charge. It was an influential decision for many years, but is now outdated as authority in light of the House of Lords decision in
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held that it was a fixed charge. The restrictions on Siebe Gorman's power gave the bank enough control to be inconsistent with being a floating charge.
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to secure a loan. The document was expressed to create a ‘first fixed charge’ over all present and future
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509:British Eagle Ltd v Cie Nationale Air France
177:Re Panama, NZ & Australian Royal Mail Co
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370:, and then formally overruled by the
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522:Aluminium BV v Romalpa Aluminium Ltd
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481:National Provincial Bank v Charnley
630:United Kingdom insolvency case law
493:Barclays Bank Ltd v Quistclose Ltd
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322:[2011] EWHC 1948 (Ch)
309:[2007] EWHC 1443 (Ch)
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190:Salomon v A Salomon & Co Ltd
640:1979 in United Kingdom case law
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422:Cases on secured debt
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318:Re Rayford Homes Ltd
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103:Re Spectrum Plus Ltd
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127:book debts
37:rebreather
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352:Authority
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119:debenture
484:1 KB 431
472:2 Ch 284
388:See also
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133:Judgment
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55:Citation
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