Does a bank have security attached to a primary debtor's book debt?

Alberta, Canada

The following excerpt is from Davis v. Alberta (Workers' Compensation Board), 1979 CanLII 1192 (AB QB):

But as stated by Masten J.A. in Great Lakes Petroleum, supra, at p. 745: "Until the bank takes legal proceedings to enforce its security that security does not attach to any specific book debt of the primary debtor. The bank cannot take out one particular book debt of the primary debtor and make its assignment attach to that book debt, while allowing the primary debtor to go on carrying on business and the charge to remain a floating charge with respect to other assets. Robson v. Smith, [1895] 2 Ch. 118."

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