Abstract
The floating charge is a complicated form of security interest that is most associated with English law. However, in 1961 a statutory floating charge was introduced in Scotland, as a modified version of the English floating charge. Despite the popularity of floating charges in practice, there have been considerable difficulties integrating them into wider Scots law in subsequent decades. Scotland has a mixed legal system and its property law is principally
Civilian. As such, it can be a useful system to study regarding the transmission of floating security from one type of system to another. The Scottish experience can provide some valuable lessons for others considering similar reforms. To help identify these lessons, this article examines various facets of floating charges in Scotland: concepts and terminology, creation of floating charges, “crystallisation”, the relationship with property law, ranking and enforcement.
Civilian. As such, it can be a useful system to study regarding the transmission of floating security from one type of system to another. The Scottish experience can provide some valuable lessons for others considering similar reforms. To help identify these lessons, this article examines various facets of floating charges in Scotland: concepts and terminology, creation of floating charges, “crystallisation”, the relationship with property law, ranking and enforcement.
| Original language | English |
|---|---|
| Pages (from-to) | 11-42 |
| Number of pages | 32 |
| Journal | Católica Law Review |
| Volume | 6 |
| Issue number | 2 |
| DOIs | |
| Publication status | Published - 2 May 2022 |
Keywords
- Floating Charges
- Rights in Security
- Scotland
- Mixed legal systems