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ARTICLE · 21 FEBRUARY 2000

Charges/Assignments Over a Part of an Asset

Hammonds
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United KingdomAntitrust/Competition Law
Gwen Griffiths
Gwen Griffiths

There are many situations, particularly in trade finance, where a borrower needs to be able to charge or assign part of a debt or an asset (e.g. part of a shipment) to one financier and part to another. Similar consideration also apply to financial intermediaries dealing in dematerialised shares or securities on behalf of clients through a single client account.

Prior to the case of Hunter v Moss (1994) a charge or assignment of part of an asset or a debt was impossible because the courts could not distinguish between the charged part and the non charged part. Hunter v Moss overturned that theory and held that if all parts of the asset or debt were identical it did not really matter which part was charged as long as there was enough in the whole to satisfy the charge.

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