Float like a butterfly, sting like a bee: is your floating charge valid?
In the current times of financial stress, a borrower seeking to renegotiate or refinance existing financing arrangements may be asked by its lender to enhance or refresh its security package through the grant of a new floating charge.
The question of whether a floating charge can be avoided due to section 245 of the Insolvency Act 1986 can arise in such a context and was examined in the recent case of Manning v Neste AB.
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