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Company Charges Spectrum and Beyond
By
Joshua Getzler and Jennifer Payne
Reviews
this work will find its audience in reformers of laws on corporate insolvency, security and personal property, and with others not engaged in law reform, but who are interested in it - be they in England, Australia or elsewhere-Sydney Law Review
collection of essays by a distinguished group of academics and practitioners with great experience in this area....This is an important book. It explores the main issues concerning fixed and floating charges with which we are currently faced. It provides overwhelming support for the proposition that the artificial, uncertain and expensive distinction drawn by insolvency law between fixed and floating charges needs to be abolished. - Richard Calnan, Law Quarterly Review
Description
- Only work of its kind to concentrate on the Spectrum Plus case
- Timely publication of the topic addressed
- A very distinguished contributor team of academics and practitioners including many leading experts
- Full consideration of the legal implications of the case such as the divide between fixed and floating charges, and the effect more generally on insolvency and security law
- Coverage of the impact for the commercial world and especially for banks
This exciting volume draws together the views of some of the most eminent figures in corporate law and finance regarding the law on fixed and floating charges. The focus for the book is the litigation in the case of Spectrum Plus, which culminated in a House of Lords judgment in June 2005 ([2005] UKHL 41).
This decision has important commercial implications, not only for the parties in the case but also for the business community at large, including banks and other lenders, and practitioners in corporate finance and insolvency. The litigation also raises important juristic questions regarding the fixed/floating charge divide such as the theoretical basis for that divide, how the divide is determined, why it exists at all and whether it ought to be maintained as a coherent doctrine and a beneficial policy. The decision also has important ramifications in both security law and insolvency law and it provides a challenge to some of our most basic conceptions of freedom of contract and the assignability of rights and assets in law and equity.
These issues, amongst others, are explored by the contributors to this book. The contributors include Gabriel Moss, who was one of the QCs involved in the Spectrum litigation, Sir Roy Goode, Michael Bridge, John Armour, Robert Stevens, Sarah Worthington, Julian Franks and Oren Sussman, Jenny Payne and Louise Gullifer, Philip Wood, Joshua Getzler, Look Chan Ho, and Nicholas Frome and Kate Gibbons.
Readership: Practitioners and academics advising on and working in corporate finance and insolvency. Will also be of interest to corporate counsel at banks and other lenders.
Authors, editors, and contributors
Edited by Joshua Getzler, Fellow and Tutor, St Hughs College, Oxford and
Jennifer Payne, Travers Smith Lecturer in Corporate Finance Law, Oxford University
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