queue, such as a retention of title clause or a Quistclose trust

While UK insolvency law fixes a priority regime, and within each class of creditor distribution of assets is proportional or pari passu, creditors can "jump up" the priority ladder through contracts. A contract for a security interest, which is traditionally conceptualised as creating a proprietary right that is enforceable against third parties, will generally allow the secured creditor to take assets away, free from competing claims of other creditors if the company cannot service its debts. This is the first and foremost function of a security...

Read More

See also: Netting and Set-off (law) Secured lending

        The general principle, according to the Mellish LJ in Re Jeavons, ex parte Mackay[38] is that "a person cannot make it a part of his contract that, in the event of bankruptcy, he is then to get some additional advantage which prevents the property being distributed under the bankruptcy laws." So in that case, Jeavons made a contract to give Brown & Co an armour plates patent, and in return Jeavons would get royalties. Jeavons also got a loan from Brown & Co. They agreed half the royalties would...

Read More

Any money due for interest on debts proven in the winding up process.

 The law permits creditors making contracts with a company before insolvency to take a security interest over a company's property. If the security is refers to some specific asset, the holder of this "fixed charge" may take the asset away free from anybody else's interest in order to satisfy the debt. If two charges are created over the same property, the charge holder with the first will have the first access.    The Insolvency Act 1986 section 176ZA gives special priority to all the fees and expenses of the insolvency practitioner,...

Read More

Low price Queen Modern Expressions Platform Bed by Better Homes & Gardens - 288210B

Queen Modern Expressions Platform Bed by Better Homes & Gardens - 288210BModern Expressions Classic modern design reinterpreted for today, the elegant Modern Expressions projects energy and sophistication. Guaranteed Sale queen bed frameBed Type : Platform BedsBed FramesMattress Type : QueenColor and Finish : AshPueden encontrar Better Homes...

Read More

Buying Skyline Furniture Nail Button Tufted Wingback Headboard SKY8722 Color: Regal Laguna, Size: Queen

Skyline Furniture Nail Button Tufted Wingback Headboard SKY8722 Color: Regal Laguna, Size: QueenSkyline Furniture This wingback headboard sets a modern feel with its unique design. Cheapest Online queen bed frameBed Type : Bed FramesHeadboards / FootboardsMattress Type : California KingFullFurniture Material : MetalColor and Finish : PewterPineShopWiki...

Read More

Get the best price for Skyline Furniture Nail Button Upholstered Headboard SKY8843 Color: Regal Laguna, Size: Queen

Skyline Furniture Nail Button Upholstered Headboard SKY8843 Color: Regal Laguna, Size: QueenSkyline Furniture This trendy headboard is upholstered in luxuriously soft velvet. It's accented with a row of decorative pewter nail buttons along the silhouette. Sale queen bed frameBed Type : Bed FramesHeadboards / FootboardsMattress Type : California...

Read More

Reviews Skyline Furniture French Fabric Upholstered Headboard SKY8774 Size: Queen

Skyline Furniture French Fabric Upholstered Headboard SKY8774 Size: QueenSkyline Furniture A classic silhouette with a sleek and modern look, this border headboard will surely add style to your bedroom. Sale Online queen bed frameBed Type : Bed FramesHeadboards / FootboardsMattress Type : California KingFullFurniture Material : MetalColor and Finish...

Read More