ABSTRACT
Re Yorkshire Woolcombers Association Ltd (1903) CA Romer LJ said that a floating charge had three key characteristics: • It is a charge on a class of assets of the company which includes present
and future assets. • The composition of the class is not fixed – it changes from time to time
in the ordinary course of the company’s business. • The charge contemplates that the company is free to carry on business
normally and deal with the assets subject to it in the ordinary course of that business until such time as the chargeholders enforce the charge – so it ‘floats’ in suspense until that time.
