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In finance, a floating charge is a security interest over a fund of changing assets of a company or other legal person.Unlike a fixed charge, which is created over ascertained and definite property, a floating charge is created over property of an ambulatory and shifting nature, such as receivables and stock.
Hoffmann J held that in reality, the charge on book debts was a floating charge, but had crystallised a week before, and so took priority over other debts. Following Re Manurewa Transport Ltd [2] crystallisation clauses were a necessary incident of parties’ freedom to contract and policy objections should be dealt with by Parliament.
Romer LJ said a charge is "floating" if it (1) is a charge on present and future assets (2) the class of assets changes in the ordinary course of business, and (3) the company can deal with the assets in business as usual. [1] The term “floating” is one that until recently was a mere popular term. It certainly had no distinct legal meaning.
The Companies Law does not make express provision for the position of a crystallised floating charge, [23] and accordingly it seems arguable that when a floating charge crystallises upon the making of a wind-up order, the position of the floating security holder should change to that of a fixed charge holder.
The effect of laws relating to voidable floating charges varies from jurisdiction to jurisdiction. Some countries simply provide that such charge are automatically void or not enforceable, [3] In other jurisdictions, they are only voidable and an application must be made by a liquidator or creditor for the floating charge to be set aside.
Zone melting (or zone refining, or floating-zone method, or floating-zone technique) is a group of similar methods of purifying crystals, in which a narrow region of a crystal is melted, and this molten zone is moved along the crystal. The molten region melts impure solid at its forward edge and leaves a wake of purer material solidified behind ...
Crystallization is the process by which solids form, where the atoms or molecules are highly organized into a structure known as a crystal. Some ways by which crystals form are precipitating from a solution, freezing, or more rarely deposition directly from a gas.
For other solvents of crystallization, analysis is conveniently accomplished by dissolving the sample in a deuterated solvent and analyzing the sample for solvent signals by NMR spectroscopy. Single crystal X-ray crystallography is often able to detect the presence of these solvents of crystallization as well. Other methods may be currently ...