Assets ceased/released
All of the property or undertaking has been released from the charge
Persons entitled
- Cable & Wireless Pension Trustee Limited
Amount secured
All moneys due under the new policy or the charge document up to the required collateral amount
Short particulars
First floating charge over all the company's right, title, interest and benefit in respect to the charged property and the assigned assets which shall not exceed the required collateral amount and shall have no right or interest in any charged property remaining after the chargee has received the amounts referred to in clause 11 of the charge document.
Contains floating charge.
Restricting provisions
Companies are expressly prohibited from creating subsequent fixed securities having priority over or ranking equally with the floating charge