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Hello my name is Alex and I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return.
Does the bank have charge on assets in the transfer please?
bank has charges with the one company only.
But the assets that want to be transferred are they ones with a charge?
This can not be done without the banks consent. This is because the original company does not have full title to the assets because of the charge - the bank does.
Therefore you can not transfer items that you do not have full title for - because in law you need full title.
Therefore these assets can not be transferred without consent of the bank, as even if they are transferred the new bank will still have title.
Does that make sense?
Hi Alex not used to this sort of conversation, just to confirm company (A) has assets that i want to transfer to company (B) the Bank has a charge on assets of Company (A) approx 20% in money terms. i do understand the concept of full title i just wanted confirmation. and yes it makes sense
Good and your understand is correct then.
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ok how do we get out of the conversation ?
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