Definition of floating debenture. Meaning of floating debenture. Synonyms of floating debenture

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Definition of floating debenture

floating debenture
Debenture De*ben"ture, n. Any of various instruments issued, esp. by corporations, as evidences of debt. Such instruments (often called debenture bonds) are generally, through not necessarily, under seal, and are usually secured by a mortgage or other charge upon property; they may be registered or unregistered. A debenture secured by a mortgage on specific property is called a mortgage debenture; one secured by a floating charge (which see), a floating debenture; one not secured by any charge a naked debenture. In general the term debenture in British usage designates any security issued by companies other than their shares, including, therefore, what are in the United States commonly called bonds. When used in the United States debenture generally designates an instrument secured by a floating charge junior to other charges secured by fixed mortgages, or, specif., one of a series of securities secured by a group of securities held in trust for the benefit of the debenture holders.

Meaning of floating debenture from wikipedia

- debenture is a medium- to long-term debt instrument used by large companies to borrow money, at a fixed rate of interest. The legal term "debenture"...
- convertible bond, convertible note, or convertible debt (or a convertible debenture if it has a maturity of greater than 10 years) is a type of bond that...
- over working capital (floating ****ets and investments). Debenture Security interest Lien Qualifying floating charge Voidable floating charge Although not...
- The Inland Revenue, which was a major creditor, argued the debenture was merely a floating charge, so its claim for tax owed took priority over the bank...
- DAF Trucks, granted to Stichting Ofasec a mortgage debenture to secure a loan, containing a floating charge. In 1993, the DAF group collapsed, and Ofasec...
- "floating charge" does not appear in it. The case related to an appeal by a debenture holder against an order of Malins VC. The appeal came before Sir G.M....
- discount debts without written consent. A debenture holder gave the company a notice converting the floating charge into a fixed charge a w**** before a...
- company granted a debenture which contained an all-****ets floating charge in favour of H. Yager (London) Limited as chargee. The debenture contained a fairly...
- calls on unpaid shares from former shareholders. However, a group of debenture holders had not yet been paid. They claimed the money recovered was theirs...
- not the subject of a floating charge. In those days it was held that, when there was a debenture which gave the creditor a floating charge over the property...