Topic summary
Re Yorkshire Woolcombers Association
Extracted from the Wikipedia article Illingworth v Houldsworth.
Illingworth v Houldsworth [1904] AC 355 (known as or Re Yorkshire Woolcombers Association in the Court of Appeal) is a UK insolvency law case, concerning the taking of a security interest over a company's assets with a floating charge. In the Court of Appeal Romer LJ held that a key to a floating charge, as opposed to a fixed charge was that the company can carry on its business with assets subject to the charge.