Question
On March 2019, there is an order to wind up BEC Sdn.Bhd. was made by the court. The order was made on the application of
On March 2019, there is an order to wind up BEC Sdn.Bhd. was made by the court. The order was made on the application of a bank who gave the company a loan on the security of a floating charge on all assets and liabilities on February 2019. The charge was registered and included a negative pledge clause. A liquidator was arranged.
Give the meaning and effect of negative pledge clause in this case.
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Law and Ethics in the Business Environment
Authors: Terry Halbert and Elaine Ingulli
8th edition
9781305177871, 1285428560, 1305177878, 978-1285428567
