Where before the commencement of the bankruptcy1 there have been mutual credits2, mutual debts3 or other mutual dealings4 between the bankrupt and any creditor of the bankrupt proving or claiming to prove for a bankruptcy debt5, an account must be taken of what is due from each party to the other in respect of mutual dealings and the sums due from one party must be set off against the sums due from the other6. Only the balance, if any, of the account so taken is provable as a bankruptcy debt or, as the case may be, is to be
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Millett LJ subdivided types of constructive trust into two categories, distinguishing between:•the constructive trust proper, where equity intervenes to prevent the legal owner from unconscionably denying the beneficial interest of another (known as the institutional constructive trust)•the
This Practice Note considers the doctrine of forum non conveniens, also referred to as the appropriate forum or the proper place for a dispute to be determined. This doctrine is of relevance when determining whether the courts of England and Wales have jurisdiction to hear a dispute and is applied
BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a Member State for many purposes. As a third country, the UK can no longer participate in the EU’s political institutions, agencies,
This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge clauseWhere
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