Clifford Chance

Re Avanti Communications Limited (in administration) – characterisation of security as fixed/floating

10 May 2023

Re Avanti Communications Limited (in administration) is a helpful first instance case for secured lending and will be welcomed by borrowers and lenders. It consolidates the law on the characterisation of security as fixed/floating and clarifies that the existence of disposal permissions in respect of a secured asset will not automatically undermine fixed security over it.

In this briefing note, we consider the key points from the case and what it means for security going forward.

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