Security & Collateral · glossary
A financier that lends against a company's unpaid invoices and is repaid as customers pay. Kite was the Company's, and held security over its book debts. The Bank's loan paid Kite off, and Kite released its security at the same moment. Chapter 2 · see Payoff letter, Deed of release
Explained in Chapter 2, What the Company Owns, and Who Already Has a Claim, of Security & Collateral.
Kite's charge was real. Kite was the Company's invoice discounter: it lent money against the Company's unpaid invoices and was repaid as customers paid. Kite's debenture took the book debts themselves, by assignment, and a floating charge over the rest.Read Chapter 2, What the Company Owns, and Who Already Has a Claim →
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