Security & Collateral · glossary
A share of the floating-charge money kept for unsecured creditors, worked on what is left after expenses and preferential debts. It is 50% of the first £10,000 and 20% of the rest, up to £800,000. The Bank cannot share in it for its shortfall. Chapter 3 · Chapter 9
Explained in Chapter 3, Fixed and Floating, of Security & Collateral.
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