RRR Sdn. Bhd. borrowed RM2 million from AAA Bank in November 2019. This wassecured by a fixed charge on the company's land in Sentul. However, this charge wasnot registered according to the Companies Act 2016.In November 2020, RRR Sdn. Bhd. borrowed a further RM500,000 from FFF Bank.This was secured by a floating charge on the company's book debts. This charge wasduly registered.An order to wind up RRR Sdn. Bhd. was made by the High Court on December 2021on the application by EEE bank, a creditor, who granted the company a loan on thesecurity of a floating charge on all the assets and undertakings of the company inNovember 2021. This charge was also registered accordingly, and a negative pledgeclause was attached. A liquidator has been appointed.Examine the following issues:a) The difference between a fixed charge and a floating charge.b) The consequences of a failure to register a charge.c) The priority of charges.d) The difference if the charges were created one month before liquidatione) The definition and effect of the negative pledge clause in this case

This question involves an analysis of the legal concepts related to charges on a company's assets…

Answered: Examine the following issues: a) The…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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