Which of the following charges on the same asset, all of which have been properly registered, has the highest priority? Assume all chargeholders are unaware of the other charges.
Which of the following events will cause a floating charge to crystallise?
How many days after creation must a charge be registered in order for it to be valid and enforceable?
Which of the following is true concerning late registration of a company charge?
Which of the following statements regarding directors' borrowing powers is correct?
Which of the following MUST be created using a debenture trust deed?
Which TWO of the following are advantages of using a debenture trust deed?
(1) The deed creates a charge or charges over the company's assets which creates security
(2) A single trustee of the debentureholders is appointed so the company only has to deal with one person
(3) Debentures covered by a debenture trust deed have a higher priority of repayment on liquidation than debentures not covered by a deed
(4) The process of selling a debenture covered by a debenture trust deed is substantially faster than the process of selling a debenture not covered by a debenture trust deed.
Which of the following statements regarding the differences between loan capital and share capital is correct?
Which of the following statements regarding the differences between loan capital and share capital is NOT correct?
Which of the following is the purpose of a 'negative pledge' clause on a company charge?