The appointment of a receiver at the instance of a subsequent incumbrancer is without prejudice to the rights of prior incumbrancers1. Therefore, if a prior mortgagee whose existence is known is not in possession, the appointment is made subject to his right to take possession2, and, accordingly, the first mortgagee can take possession without the permission of the court3, although formerly it was considered that permission was required4, and application for permission was usually made5. Permission is, however, necessary where there has been no express reservation of the mortgagee's rights in the order6. If a prior mortgagee is in
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Produced with input from Rebecca Cousin of Slaughter and May on market practice.This Practice Note summarises the rules and guidance in relation to parties who are, or may be presumed to be, acting in concert for the purposes of The City Code on Takeovers and Mergers (the Code). In particular the
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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,
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