21. In countries that permit the making of an administration order, the floating charge had another key benefit. 22. Especially when there is a floating charge . 23. At first instance Knox J, following " Brightlife ", held that they were subject to a floating charge . 24. However, because of the nature of floating charge, the priority of floating charge holder's claims normally rank behind: 25. Like a fixed charge, a floating charge can be created by a contract with a company before insolvency. 26. However, because of the nature of floating charge , the priority of floating charge holder's claims normally rank behind: 27. This was felt to be too favourable to the floating charge holder at the expense of other creditors. 28. In most countries floating charges can only be granted by companies, void as a general assignment in bankruptcy. 29. For example, floating charges are often used by finance companies in the United States to finance movable assets. 30. This means that an administrative receiver can normally only be appointed by the holder of a floating charge .
