The mortgagee cannot in general foreclose part only of the mortgaged property. If several properties are mortgaged together, and are afterwards incumbered or disposed of separately, the incumbrancers on and persons interested in the equity of redemption of each property are necessary parties to the first mortgagee's foreclosure proceedings1. If, however, the two properties are subject to separate prior mortgages, the later mortgagee of both can redeem one by itself, and then he may foreclose the mortgagor as to that only
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This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors.This
On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a lease, but this is rare in practice.
What is recklessness?In respect of some statutory offences and common law crimes the prosecution are required to prove a mental element of recklessness on the part of the defendant.Recklessness means unjustified risk taking on the part of the accused.Prior to the House of Lords decision in Re G
This Practice Note considers the different categories of contractual damages that may be available for financial loss (pecuniary loss), ie expectation-based damages, reliance-based damages and gains-based damages.For guidance on contractual damages generally, see Practice Note: Contractual
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