If you borrow money from a bank they may well require a Fixed Charge against specific assets belonging to you or your company. In the case of real estate this would be recorded as a First Charge (see above) at the Land Registry. In the case of a machine they would still require a Fixed Charge but as far as I am aware this is not officially registered anywhere. But there may well be a database somewhere recording serial numbers and so on as is the case with cars subject to Hire Purchase agreements.
So if you uproot this machine and sell it expect something unpleasant to happen. If you fail to repay the bank they will in due course take possession of everything covered by the fixed charge and sell it off and account to you for any surplus.
Bob Cory
Modified on 12/09/2019 at 08:55:02 by ℗ Bob Cory