Which of the following statements is true regarding selling assets with floating charges?

The statement that floating charge creditors cannot receive more than the secured debt amount is accurate in the context of corporate insolvency and the treatment of floating charges. When a company faces insolvency, floating charge creditors are limited to recovering only the amount of their secured debt from the proceeds of the assets subject to the charge. This means that if the realizable value of the floating charge assets exceeds the amount of the secured debt, the excess would not go to them but rather to the company's general pool of creditors or stakeholders.

In insolvency scenarios, floating charge creditors have a preferential claim over the company's assets that were subject to the floating charge. However, this preferential treatment is specifically confined to the extent of the debt secured by the floating charge. Once the secured debt is satisfied, any remaining value in those assets does not benefit the floating charge creditors and is instead distributed according to the rules governing other creditors, including unsecured creditors.

The understanding of floating charges is fundamental in corporate law, especially concerning how secured creditors are treated during liquidation or administration processes, illustrating the limitation of potential recoveries they can realize from the assets charged.