Define assignment of Accounts Receivable
Define assignment of Accounts Receivable?
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If accounts receivable are used as security for a loan, the bank can collect the assigned receivables owing to the business if the loan is not repaid. As long as the loan remains in good standing, the debtor is usually free to collect its own receivables and carry on business as usual.
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1. GML owns 92% of the issued shares in Explorer Ltd. The remaining 8% of the shares are held by five individuals, including a Mr Owen who owns 0.5% of the issued shares. Mr Owen is a high profile individual who has at times been critical of the Chinese government’s activities in the South China
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