It is all too common for corporate groups to think and act as integrated businesses, managed by the same individuals and with group receivables set out in consolidated group accounts. Such “group think” may reap efficiencies but presents challenges when the wrong group entity assigns a receivable due to another group entity in order to provide security for finance lent to support the business of the group. The recent decision in Abraaj Investment Management Ltd (in liq) v KES Power Ltd [2026] EWHC 65 (Comm) offers insight into the issues that arise in such a situation and the potential arguments available to lenders seeking to assert the effectiveness of their security.