Books > Old Books > Poetry Northwest (1959)


Page 200

CHAPTER 17
DEBENTURES

to the contract to pay the money secured. When the charge becomes void under s. 95, the money secured becomes immediately payable. The result is that the creditor is reduced to the level of an unsecured creditor.

Re Monolithic Building Co., [1915] 1 Ch. 643. In March the company mortgaged some property to T. to secure £500. The mortgage was not registered. In December the company issued debentures secured by a floating charge to J. to secure another £500. These debentures were registered. Held, although J., when he took his security, had notice of T.'s mortgage, he nevertheless had priority over T.

Time for Registration.-Registration must be effected within twenty-one days of the creation of the charge (s. 95). The date of creation is the date when the charge is executed and not when the money is advanced.

Esberger &.Son, Ltd. v. Capital and Counties Bank, [1913] 2 Ch. 366. In September, 1910, the company deposited the title deeds of property and a signed memorandum of charge with the bank to secure an overdraft. After the deposit, further advances were made by the bank. The memorandum being undated, the bank on June 14, 1911, filled in that date, and on July 3, 1911, registered the charge. Held, the charge was not registered within twenty-one days of its creation-which was in September, 1910-and was void against the liquidator.

The Court has power under s. 101 to extend the time for registration and to rectify errors in registration if the omission or error is
(a) accidental; or
(b) due to inadvertence or some other sufficient cause; or
(c) not of a nature to prejudice the creditors or shareholders; or
(d) on other grounds it is just and equitable to grant relief.
Relief will usually only be granted without prejudice to the rights of parties acquired prior to the time when the charge is actually registered. (40) Accordingly, if the company has gone into liquidation there will be, as a general rule, no benefit in obtaining an extension of time, as the creditors will then have acquired rights against the property of the company.(41)
Registration with Company (s. 104).-Every company must keep at its registered office a register of all charges specifically affecting the property of the company and all floating charges on the undertaking or any property of the company. The register must give
(a) a short description of the property charged;

40 Re Joplin Brewery, [1902] 1 Ch. 79.
41 Re Abraham & Sons, [1902] 1 Ch. 695.

travel books:
where is HTML where is HEAD where is TITLE to what is contract to pay what is money secured. When what is charge becomes void under s. 95, what is money secured becomes immediately payable. what is result is that what is creditor is reduced to what is level of an unsecured creditor. Re Monolithic Building Co., [1915] 1 Ch. 643. In March what is company mortgaged some property to T. to secure £500. what is mortgage was not registered. In December what is company issued debentures secured by a floating charge to J. to secure another £500. These debentures were registered. Held, although J., when he took his security, had notice of T.'s mortgage, he nevertheless had priority over T. Time for Registration.-Registration must be effected within twenty-one days of what is creation of what is charge (s. 95). what is date of creation is what is date when what is charge is executed and not when what is money is advanced. Esberger &.Son, Ltd. v. Capital and Counties Bank, [1913] 2 Ch. 366. In September, 1910, what is company deposited what is title deeds of property and a signed memorandum of charge with what is bank to secure an overdraft. After what is deposit, further advances were made by what is bank. what is memorandum being undated, what is bank on June 14, 1911, filled in that date, and on July 3, 1911, registered what is charge. Held, what is charge was not registered within twenty-one days of its creation-which was in September, 1910-and was void against what is liquidator. what is Court has power under s. 101 to extend what is time for registration and to rectify errors in registration if what is omission or error is (a) accidental; or (b) due to inadvertence or some other sufficient cause; or (c) not of a nature to prejudice what is creditors or shareholders; or (d) on other grounds it is just and equitable to grant relief. Relief will usually only be granted without prejudice to what is rights of parties acquired prior to what is time when what is charge is actually registered. (40) Accordingly, if what is company has gone into liquidation there will be, as a general rule, no benefit in obtaining an extension of time, as what is creditors will then have acquired rights against what is property of what is company.(41) Registration with Company (s. 104).-Every company must keep at its registered office a register of all charges specifically affecting what is property of what is company and all floating charges on what is undertaking or any property of what is company. what is register must give (a) a short description of what is property charged; 40 Re Joplin Brewery, [1902] 1 Ch. 79. 41 Re Abraham & Sons, [1902] 1 Ch. 695. where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 200 where is strong CHAPTER 17 DEBENTURES where is p align="justify" to what is contract to pay what is money secured. When what is charge becomes void under s. 95, what is money secured becomes immediately payable. what is result is that what is creditor is reduced to what is level of an unsecured creditor. Re Monolithic Building Co., [1915] 1 Ch. 643. In March what is company mortgaged some property to T. to secure £500. what is mortgage was not registered. In December what is company issued debentures secured by a floating charge to J. to secure another £500. These debentures were registered. Held, although J., when he took his security, had notice of T.'s mortgage, he nevertheless had priority over T. Time for Registration.-Registration must be effected within twenty-one days of what is creation of what is charge (s. 95). what is date of creation is what is date when what is charge is executed and not when what is money is advanced. Esberger &.Son, Ltd. v. Capital and Counties Bank, [1913] 2 Ch. 366. In September, 1910, what is company deposited what is title deeds of property and a signed memorandum of charge with what is bank to secure an overdraft. After what is deposit, further advances were made by what is bank. what is memorandum being undated, what is bank on June 14, 1911, filled in that date, and on July 3, 1911, registered the charge. Held, what is charge was not registered within twenty-one days of its creation-which was in September, 1910-and was void against what is liquidator. what is Court has power under s. 101 to extend what is time for registration and to rectify errors in registration if what is omission or error is (a) accidental; or (b) due to inadvertence or some other sufficient cause; or (c) not of a nature to prejudice what is creditors or shareholders; or (d) on other grounds it is just and equitable to grant relief. Relief will usually only be granted without prejudice to what is rights of parties acquired prior to what is time when what is charge is actually registered. (40) Accordingly, if what is company has gone into liquidation there will be, as a general rule, no benefit in obtaining an extension of time, as what is creditors will then have acquired rights against what is property of what is company.(41) Registration with Company (s. 104).-Every company must keep at its registered office a register of all charges specifically affecting what is property of what is company and all floating charges on what is undertaking or any property of what is company. what is register must give (a) a short description of what is property charged; 40 Re Joplin Brewery, [1902] 1 Ch. 79. 41 Re Abraham & Sons, [1902] 1 Ch. 695. where is Server.Execute("_SiteMap.asp") %

Book Pages: _SiteMap , default , 001 , 002 , 003 , 004 , 005 , 006 , 007 , 008 , 009 , 010 , 011 , 012 , 013 , 014 , 015 , 016 , 017 , 018 , 019 , 020 , 021 , 022 , 023 , 024 , 025 , 026 , 027 , 028 , 029 , 030 , 031 , 032 , 033 , 034 , 035 , 036 , 037 , 038 , 039 , 040 , 041 , 042 , 043 , 044 , 045 , 046 , 047 , 048 , 049 , 050 , 051 , 052 , 053 , 054 , 055 , 056 , 057 , 058 , 059 , 060 , 061 , 062 , 063 , 064 , 065 , 066 , 067 , 068 , 069 , 070 , 071 , 072 , 073 , 074 , 075 , 076 , 077 , 078 , 079 , 080 , 081 , 082 , 083 , 084 , 085 , 086 , 087 , 088 , 089 , 090 , 091 , 092 , 093 , 094 , 095 , 096 , 097 , 098 , 099 , 100 , 101 , 102 , 103 , 104 , 105 , 106 , 107 , 108 , 109 , 110 , 111 , 112 , 113 , 114 , 115 , 116 , 117 , 118 , 119 , 120 , 121 , 122 , 123 , 124 , 125 , 126 , 127 , 128 , 129 , 130 , 131 , 132 , 133 , 134 , 135 , 136 , 137 , 138 , 139 , 140 , 142 , 143 , 144 , 145 , 146 , 147 , 148 , 149 , 150 , 151 , 152 , 153 , 154 , 155 , 156 , 157 , 158 , 159 , 160 , 161 , 162 , 164 , 165 , 166 , 167 , 168 , 169 , 170 , 171 , 172 , 178 , 179 , 180 , 181 , 182 , 183 , 184 , 185 , 186 , 187 , 188 , 189 , 190 , 191 , 192 , 193 , 194 , 195 , 196 , 197 , 198 , 199 , 200 , 201 , 202 , 203 , 204 , 205 , 206 , 207 , 209 , 210 , 211 , 212 , 214 , 215 , 217 , 218 , 219 , 220 , 221 , 222 , 223 , 224 , 225 , 226 , 227 , 228 , 229 , 230 , 231 , 232 , 233 , 234 , 235 , 236 , 237 , 238 , 239 , 240 , 241 , 242 , 243 , 244 , 245 , 246 , 247 , 248 , 249 , 250 , 251 , 252 , 253 , 254 , 255 , 256 , 257 , 258 , 259 , 260 , 261 , 262 , 263 , 264 , 265 , 266 , 267 , 268 , 269 , 270 , 271 , 272 , 273 , 274 , 275 , 276 , 277 , 278 , 279 , 280 , 281 , 282 , 283 , 284 , 285 , 287 , 288 , 289 , 290 , 291 , 292 , 293 , 294 , 295 , 296 , 297 , 298 , 299 , 300 , 301 , 302 , 303 , 304 , 305 , 306 , 307 , 308 , 309 , 310 , 311 , 312 , 313 , 314 , 315 , 316 , 317 , 318 , 319 , 320 , 321 , 322 , 323 , 324 , 325 , 326 , 327 , 328 , 329 , 330 , 331 , 332 , 333 , 334 ,