Buckley J distinguished between (1) an agreement to give security which was ‘so expressed as to create a present equitable right to a security’ and was thus registrable against te company registers; and (2) an agreement to give security which was so expressed as to be ‘merely an agreement that in some future circumstances a security shall in the future be created’ (which would not require registration).
Judges:
Buckley J
Citations:
[1906] 2 Ch 467
Jurisdiction:
England and Wales
Cited by:
Cited – Re Shoe Lace Ltd, Power v Sharp Investments Ltd CA 1993
A debenture was executed on 24th July 1990. Money earlier advanced by the chargee in anticipation of and in consideration for the debenture, including an advance made on 16th July 1990, had not been made ‘at the same time as’ the creation of the . .
Mentioned – Rehman v Chamberlain and Another ChD 6-Sep-2011
The claimant asserted as against the liquidator, a floating and registered charge over the company’s assets. The liquidator said that it had been granted within the twelve months prior to the onset of the insolvency, was caught by section 245(3)(b), . .
Lists of cited by and citing cases may be incomplete.
Company
Updated: 10 September 2022; Ref: scu.444539