A Comparative Overview of Floating Charges and Functional Equivalents

This chapter provides an expansive comparative overview of floating charges and functional equivalents in 40 jurisdictions across the world, using questionnaire responses from experts on the relevant law in those jurisdictions. It considers various matters relating to floating security, such as its existence in the selected jurisdictions, its history and development, a range of property issues including creation, scope, integration with wider property law, and when assets become encumbered and unencumbered by the security, before moving on to an examination of enforcement and ranking matters. The study identifies a (preliminary) multilayered definition of floating security, as well as points of alignment and contrast among the jurisdictions in the study. Finally, opportunities for further research in relation to floating security, building upon this study, are highlighted.