State which of the floating charges will take priority if Milly Ltd is liquidated
【参考答案及解析】
Peppa Ltd's charge, whilst created first, was not registered within 21 days. It is therefore not valid. Otto Ltd's charge was validly registered and therefore will take priority in the event of liquidation.
Peppa Ltd's charge, whilst created first, was not registered within 21 days. It is therefore not valid. Otto Ltd's charge was validly registered and therefore will take priority in the event of liquidation.