Non-possessory security interests in English law: Fixed and Floating charge: attachment and perfection.

Abstract

In a situation of real estate crisis, the financial capital acquires increasing importance. However, in Spanish law there is an inadequacy between the granting of credits and the types of security interests in the traffic of movables. Therefore, it seems necessary to find flexible formulas that overcome the drawbacks of the classic security interests, especially non possessory. Debtors need goods for the exploitation of their company and certain active give as a guarantee, as financial instruments, goods or commodities be disposal or transformable without the guarantee disappears. In this context, resort to comparative law and the experience of other countries was an essential step to mature the most suitable solutions regarding our circumstances. This research article focuses on English law; specifically on the charge, which may take two forms: fixed charge and floating charge. The last form is characterized because it can fall to present and future, tangible and intangible, goods without requiring express act of submission to the security already lodged when new assets are acquired. It is also allows that the debtor disposes assets in the ordinary course of business, in such a way that the purchaser received them free of charge. The flexibility of this form we believe that it justifies this study, which is going to focus on the requirements necessary to attachment and perfection the charge.