charge holder वाक्य

If the secured creditor has a security interest which is only a floating charge, then although the making of a winding up order does not stay the rights of the floating charge holder, because the claims secured by the floating charge are subordinated to the claims of the preferred creditors, in practice the secured creditor is unlikely to enforce his rights unless it is clear that there are sufficient assets available to the liquidator to pay all of the preferred claims.