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Distress definition

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What does Distress mean?

A landlord's right to take goods as compensation for unpaid rent.

A landlord of commercial premises may seize the tenant's goods in certain circumstances when the tenant has failed to pay the rent. The tenant may then apply for replevin.

Minimise

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Recovering rent arrears

This Practice Note provides brief details of the main methods of rent arrears recovery, and gives links to further information in each case.Before taking any action to recover rent arrears, landlords must consider:•whether to forfeit the lease for non-payment•whether the tenant is in any form of insolvency and, if so, what implications this has for the methods of recovery available•whether there are any limitation period issues. No action may be taken to recover rent arrears after the expiry of six years from the date on which the arrears became dueForfeiture must be considered first as any demand for or acceptance of rent that fell due after the right to forfeit arose will waive the right to forfeit. For further information, see Practice Note: Forfeiture of a lease.For guidance on the forms of insolvency that a tenant may be subject to, see Practice Note: Insolvency for property disputes lawyers.Court proceedingsPrior to issuing proceedings, the landlord must consider whether the Pre-Action Protocol for Debt Claims (the Protocol) will apply. The Protocol applies where any business (including a sole trader and public body) is claiming payment of a debt from an individual (including a sole trader). It describes the conduct which the court will expect from the parties prior to the start of proceedings, including the information to be set out in the

End of life planning

End of life planning Importance of discussing end of life plans Towards the later stage of a person’s life, conversations may take place between them, their families and those who look after them, such as doctors and other health care professionals to understand and share expectations and wishes regarding future care and treatment. These important conversations can help the person make informed decisions, plan ahead, give them control over care and treatment they receive or do not want to receive, and provide peace of mind. The person’s plans can include any, or all of, the following: • making a health and welfare lasting power of attorney (LPA) appointing another person or persons to make decisions, if and when they lack mental capacity to make a decision for themselves • making an advance decision to refuse specified medical treatment in specified circumstances in the future • setting out their wishes for care and treatment in an advance statement or an advance care plan, which may be taken into account when care and treatment is being provided Sometimes the person’s decision to refuse treatment may come into conflict with their own family’s wish for treatment to be provided. To avoid conflict, they should discuss their views and plans with the people who care about them. This is particularly important if the person has made an advance decision to refuse treatment and they then make a

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Share purchase agreement—pro-buyer—corporate seller—conditional—long form

Share purchase agreement—pro-buyer—corporate seller—conditional—long form This Agreement is made on [insert day and month] 20[insert year] Parties 1 [Insert name of selling corporate entity] incorporated in [England and Wales OR [insert country of incorporation] OR with registered number [insert company number] whose registered office is at [insert address] (the Seller); 2 [Insert name of purchasing corporate entity] incorporated in England and Wales OR [insert country of incorporation] OR with registered number [insert company number] whose registered office is at [insert address] (the Buyer), and 3 [Insert name of guarantor entity] incorporated in England and Wales OR [insert country of incorporation]] with registered number [insert company number] whose registered office is at [insert address] (the Guarantor) [(each of the Seller, the Buyer and the Guarantor being a Party and together the Seller, the Buyer and the Guarantor are the Parties).] Background (A) The Company (as defined below) is a private company limited by shares and is incorporated in [England and Wales OR [insert country of incorporation]]. Details of the Company are set out in Schedule 1. (B) The Seller is the legal and beneficial owner of the Sale Shares (as defined below), being in aggregate the entire allotted and issued share capital of the Company. (C) The Seller has agreed to sell and the Buyer has agreed to purchase the Sale Shares on the terms of this Agreement. (D) The Guarantor has

Legal due diligence questionnaire—private M&A—share purchase

Legal due diligence questionnaire—private M&A—share purchase Dated [insert date] Introduction This legal due diligence questionnaire relates to the proposed purchase by [insert buyer name] (the Buyer) of the entire issued share capital of [insert name of target company] Limited incorporated in England and Wales under number [insert company number] (the Company) from [insert seller name] (the Seller) (the Proposed Acquisition). This questionnaire is designed to enable the Buyer, the Buyer's solicitors and other professional advisers involved in the Proposed Acquisition to obtain the information which the Buyer requires to assist in its valuation of the Company. Please answer every question fully. Please provide your answers in italics underneath each question and provide copies of all relevant documentation, ensuring that all answers and documents are clearly marked by reference to the appropriate paragraph of this questionnaire. We reserve the right to raise further enquiries in respect of both your responses to this questionnaire and generally. Definitions Business • means the business of [insert description of the business] and all other activities including those ancillary or incidental to or in connection with such business as carried on by the [Company OR Group] CA 2006 • means the Companies Act 2006; Contractor • means any individual working in a Group Company’s business who is not an Employee or Worker; Data Protection Laws • means as applicable and binding on the Company: (a) Directive 95/46/EC; (b) the Data Protection Act 1998; (c) Directive 2002/58/EC;

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While a business tenancy continues under section 24 of the Landlord and Tenant Act 1954, in circumstances in which the parties have not agreed an interim rent, and no application has been issued, does this mean that no rent is contractually payable pending an application/agreement or does the obligation to pay rent continue under the original lease?

While a business tenancy continues under section 24 of the Landlord and Tenant Act 1954, in circumstances in which the parties have not agreed an interim rent, and no application has been issued, does this mean that no rent is contractually payable pending an application/agreement or does the obligation to pay rent continue under the original lease? It has always been the case that a person who uses and occupies property must generally pay for its use. That is the case even where that person remains in possession of premises after the determination of a lease (called 'holding over'). In some circumstances, a person holding over is subject to fairly draconian obligations for their continued occupation—the landlord can either claim double value under the Landlord and Tenant Act 1730, or double rent under the Distress for Rent Act 1737, depending on the circumstances. Part II of the Landlord and Tenant

Does the new moratorium introduced by the Corporate and Insolvency Governance Act 2020 apply to un-liquidated claims for compensation (for example, for discrimination) prior to the commencement of the moratorium? How does a claimant seek permission to issue or continue such proceedings if a statutory moratorium commences?

Does the new moratorium introduced by the Corporate and Insolvency Governance Act 2020 apply to un-liquidated claims for compensation (for example, for discrimination) prior to the commencement of the moratorium? How does a claimant seek permission to issue or continue such proceedings if a statutory moratorium commences? The Corporate Insolvency and Governance Act 2020 inserts a new Part A1 of the Insolvency Act 1986 (IA 1986) which provides for a new insolvency process whereby directors of insolvent companies, or companies that are likely to become insolvent, can obtain a 20 business day moratorium period (which can be extended up to 40 days maximum). The Act came into force on 26 June 2020. The moratorium is designed to allow viable businesses time to restructure or seek new investment free from creditor action. There is eligibility criteria to be met in order to benefit from the moratorium, and the correct process needs to be followed to gain the benefit of the moratorium. The moratorium is monitored by an Insolvency Practitioner. For more detail on the practicalities and eligibility, see Practice Note: Corporate Insolvency and Governance Act 2020—moratorium. The moratorium is similar to the moratorium for companies in administration. This means that during the period of the moratorium: • no insolvency proceedings may be commenced, other than on an application by the directors or on public interest grounds • no steps may be taken

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A comparative analysis of the restructuring tools available to financially distressed companies in the Cayman Islands, Bermuda and the British Virgin Islands

Restructuring and Insolvency analysis: This article broadly discusses the key restructuring tools available in the Cayman Islands, Bermuda and the British Virgin Islands (BVI) and examines, in particular, the broad-based similarities and often-overlooked differences between the regimes. Written by Jessica Williams (Cayman Islands), Jayson Wood (Bermuda), Andrew Thorp (BVI) and Sanjev Guna (Hong Kong) of Harneys.

Restructuring & Insolvency weekly highlights—28 July 2022

This week’s edition of Restructuring & Insolvency weekly highlights includes: the first approval of a restructuring plan for a SME (Re Houst Ltd), mental health considerations in connection with a bankruptcy (Hyde v Djurberg), and the impact of an annulment of a bankruptcy order on limitation (Khan v Singh-Sall and Habib Bank), plus a round-up of other news and cases for restructuring and insolvency professionals.

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282. Abolition of common law right to distrain for arrears of rent.

At common law, arrears of rent used to be recoverable either by action1 or by distress2, but the common law right to distrain for arrears of rent was abolished, with effect from 6 April 2014, by the Tribunals, Courts and Enforcement Act 20073.A landlord under a lease of commercial premises may, however, use the procedure for taking control of goods set out in Schedule 12 to the Tribunals, Courts

Distress is referenced 1 in Halsbury's Laws of England

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