Siebe Gorman & Co Ltd v Barclays Bank Ltd Also known as: Siebe Gorman & Co Ltd v RH McDonald Ltd (Ch D) Chancery Division 26 May 1978 Where Reported SummaryCases CitedLegislation CitedHistory of the CaseCitations to the CaseCase Comments Where Reported [1979] 2 Lloyd's Rep. 142 Summary Subject: Banking and finance Keywords: Bills of Exchange; Book debts; Equity of redemption; Fixedcharges Catchphrases: Assignment; priority of bank over proceeds Abstract: In January 1971 D1 executed in favour of D2, a bank, a debenture,cl. 3 of which provided, inter alia, "[D1] as beneficial owner hereby chargeswith payment or discharge of all monies and liabilities hereby covenanted to bepaid or discharged by [D1] by way of first fixed charge all book debts andother debts now and from tim...
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