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Define mass defect.
Circulating Security Interest
A floating charge over all of a company.
Floating Charge
A security interest over a fluctuating pool of assets, such as inventory or receivables, which allows the borrower to use the assets in the course of business.
Liquidator
A person or entity appointed to wind up the affairs of a company and dispose of its assets in the event of its liquidation.
Winding Up
The process of concluding a company's affairs, settling its liabilities, and distributing the remaining assets to the shareholders or owners.
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