Introduction
Ireland, United Kingdom, Insolvency & Restructuring, Mason Hayes & Curran LLP, Bankruptcy, Debtor, Interest
The priority position of floating charge holders following crystallisation their charge introduction
Introduction
Prior to 25 March 2011, there was no judicial decision in Ireland on whether the holder of a floating charge could validly improve its position in the order of priority of payments, vis-à-vis preferential creditors, in circumstances where its floating charge crystallises (i.e. converts into a fixed charge) prior to commencement of the winding up of a company.
Ireland, Banking, Insolvency & Restructuring, Litigation, Mason Hayes & Curran LLP, Security (finance), Liquidation, Liquidator (law), Debenture, Companies Act