Bluebird Finance of Saskatoon offered Rubina Naderi a $50 000 loan to start a dressmaking business. The loan was to be secured by a “floating charge” over all of Naderi’s assets. The floating charge would crystallize only at the moment that Rubina was declared bankrupt. Rubina went into business in a Saskatoon mall and began making payments to repay the loan; however, her efforts were not enough. After several months she went out of business and assigned herself into bankruptcy. She wonders if Bluebird Finance remains a secured lender, given that she owes it less than the full $50000.