The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
Coronavirus (COVID-19): Transaction planning will need to take into account the impact of coronavirus (COVID-19) on execution of documents and company filing and administration procedures. For further information, see Practice Note: Coronavirus (COVID-19)—implications for lending transactions—Coronavirus (COVID-19)—impact on deal execution?
For wider information on key developments and related practical guidance on the implications of COVID-19 for lawyers, see: Coronavirus (COVID-19) toolkit and in relation to Banking & Finance specifically, see Practice Note: Coronavirus (COVID-19) implications for Banking & Finance lawyers.
There are situations where parties may consider amending security documents. Common examples include:
the parties want to make changes to the obligations being secured
the chargee wants to assign or novate its security following a transfer of the debt
the parties want to charge additional assets or change the nature of an existing charge (eg from a floating charge to a legal mortgage), and
the parties want to correct a mistake or document an amendment to what has been agreed
Parties may consider that amending a security document may be cheaper and easier than putting a new security document in place.
Depending on the type of amendment, there is a risk that a liquidator or administrator could argue that new security has been created risking the security being set aside (see Practice
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Tipping off and prejudicing an investigationIt would undermine the benefit to the authorities if, a suspicious activity report (SAR) having been made, the alleged offender were to be made aware of the interest in their activities so that they could take steps to cover up their misdeeds or disappear.
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
LiabilityFalse imprisonment consists of the complete deprivation of liberty without a lawful basis. Claims will in practice be made against a public body that exercises detention powers, usually a local police force, the Secretary of State for the Home Department or the Secretary of State for
A declaratory judgment is a judgment identifying the rights, duties or obligations of one or more parties in a dispute. It is legally binding, but does not order any action by a party. A court may issue it alone or in conjunction with some other relief such as an injunction and can be granted on an
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.