PUTTING A CHARGE ON A COMPANY

[millcastleprint]

Can I put a charge on a companies property that has a debenture on it by the bank. I want to put a charge against the company as it owes me money and is about to go out of business?

[maclarencat]

I think you will need to get a judgement against them first and if they are about to go out of business best be quick. Although someone on here may know better than me.

[venator]

The bank's debenture will usually take priority over most trading debts, so in practice you could be wasting your time.

In a similar position some years ago, I bought goods from the people who owed me money, and argued them into offsetting the transactions.

This could be dangerous if a receiver is called in, as he would almost certainly not agree to this.

If you have supplied goods to them, and can identify them, you may have a lien on them as an unpaid seller of goods.

Take legal advice before doing anything. AB is free, but free advice isn't always the best!