A fixed charge is a form of security granted over specific assets, preventing the debtor dealing with those assets without the consent of the secured creditor. It gives the secured creditor a first claim on the proceeds of sale, and the creditor can usually appoint a receiver to realise the assets in the event of default.
(
(Please Note: The
definitions are not intended to be exhaustive
summaries of the Law. They are based on material
from The Insolvency Act 1986 , and other Acts
dealing with this subject.)
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