The following Restructuring & Insolvency Q&A provides comprehensive and up to date legal information covering:
The equitable duty owed by a receiver to a mortgagor when selling a property is the same as that owed by the mortgagee to a mortgagor (see Silven Properties Limited v Royal Bank of Scotland). When exercising power of sale over mortgaged property, a mortgagee is under a general duty to take reasonable care to obtain the true market value of the mortgaged property at the time they choose to sell it (see Cuckmere Brick Co Ltd v Mutual Finance Ltd). The phrase ‘true market value’ is synonymous with ‘the best price reasonably obtainable' and ‘a proper price’. For further information, see Practice Note: Best price reasonably ob
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Facilitating the performance of a duty by public officialsFacilitation payments, also known as facilitating or grease payments, are generally small amounts of money paid to public officials or others as a means of ensuring that they perform their duty, whether more promptly or at all. In some
This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further below.You should also consider if the proceedings will be
BREXIT: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. This has an impact on this Practice Note. For further guidance on
The principles of the notarial act are that it is:•an act of the notary and not of the parties named in the document•a record of a fact, event or transaction•in the form of a document, notwithstanding the form of the underlying document, fact, event or transactionThe purpose of the notarial act is
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