release of a charge on assets

release of a charge on assets

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The bank has confirmed to the company that the have been paid in full and have released their charge on the company's assets.   Form MR04 has not yet been filed at Companies House. Is the charge released or is it only released on the filing of the MR04?

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By johngroganjga
19th Sep 2013 09:11

Well in practice, as between the company and the bank,  the bank's private confirmation to the company will be sufficient to defeat an attempt by the bank to collect any money or enforce their charge.  But you can't expect third parties to accept that the charge has been released until that has been recorded on the company's file at Companies House in the proper manner.  

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