31. They provide him with his cash flow and as such are the natural subjects of a floating charge . 32. But unlike a fixed charge, a floating charge need not refer to a specific asset of the company. 33. To find the consent in question in the original agreement would turn every floating charge into a fixed charge. 34. By statute floating charge holders are subordinated to preferred creditors, although under complex rules still rank ahead of liquidator's claims. 35. Floating charges take effect in " bona fide " purchaser for value without notice of any asset covered by them.36. When there is a floating charge , the legislature no longer regards the property as belonging wholly to the debenture holder. 37. In deciding whether a charge is a fixed charge or a floating charge , the Court is engaged in a two-stage process. 38. Generally speaking, a floating charge is only potentially vulnerable if it is entered into within the vulnerability period under applicable law. 39. In the US, a small importer of motorcycles often receives credit via a floating charge over the number of motorbikes financed. 40. If a company had granted a floating charge the court may not make an administration order without the consent of the holder.
