Illingworth v Houldsworth [1904] AC 355 (known as or Re Yorkshire Woolcombers Association in the Court of Appeal) is a UK insolvency law case, concerning the taking of a security interest over a company's assets with a floating charge.

This is principally because of the attempt by Romer LJ to describe or define the core characteristics of a floating charge.

Despite stating explicitly: "I certainly do not intend to attempt to give an exact definition of the term 'floating charge,'" his description has been almost universally accepted and endorsed.

Mr Frederick Illingworth, on behalf of the guarantors, agreed with the Association to have a charge over the company's book debts.

On 21 November 1902, Mr Illingworth appointed a receiver to call in the book debts (a large sum, amounting to £71,000).

In that case he stated: "Everybody knows that when there is a winding-up debenture-holders generally step in and sweep off everything; and a great scandal it is.