Re Parkes Garage (Swadlincote) Ltd [1929] 1 Ch 139 is a leading UK insolvency law case, concerning a voidable floating charge for past value.

The liquidator of Parkes Garage (Swadlincote) Ltd sought a declaration that a floating charge on the company's property given by a debenture to a creditor, Mr Oswald Ling, was invalid.

On 27 July the company sold part of the business and used that cash to pay off the group of creditors, with interest and a fee to Mr Ling.

On 14 September, another creditor, Midland Bank, heard about these dealings and successfully petitioned for a winding up order.

But having regard to what has been disclosed in these proceedings, that the company was hopelessly insolvent from the beginning of March down to the date of the winding-up order, and that the effect of the payments to these half dozen creditors on July 27 was to apply the whole available assets of the company to the payment of their debts in full and to leave other creditors whose debts largely exceeded the aggregate amount paid to the half dozen unprovided for, raises a doubt whether the whole transaction, which culminated in the payments on July 27, was not in the nature of a fraudulent preference.