Neil Levy considers ‘Security on Rental Income’

Neil Levy considers ‘Security on Rental Income’

25 Jan, 2017

This is the sixth in the series of insolvency papers which we have been launching over recent weeks.

This paper considers the impact of administration or liquidation on a secured creditor’s rights under a charge on a company’s rental income, whether from land or chattels. Topics covered include rights under legal and equitable mortgages on land, specific charges on rental income from land, issues of characterisation as a fixed or floating charge, how this is plays out where rent represents the ‘fruits’ of a fixed charge asset or is credited to a blocked account, and the position where the creditor has only a generic charge on book debts. Consideration is also given to assignments of rental income, as well as the position of the liquidator or administrator when a secured creditor is seeking to enforce.

To read the article in full please click here.

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