The following Private Client Q&A provides comprehensive and up to date legal information covering:
Various types of assets and property are disregarded for the purposes of assessing a person’s liability to contribute towards their costs of care provided by a local authority.
The categories of disregarded capital are set out in Income Support (General) Regulations 1987, SI 1987/1967, Sch 10 (Capital to be disregarded).
Schedule 10, paragraph 15 of the regulations specify that: ‘the surrender value of any policy of life insurance’ is to be disregarded.
For further reading, see Practice Note: Benefits and means testing.
If the pe
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This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the company may want to ensure that relevant creditors quickly enter a standstill agreement to gain some breathing space to consider a restructuring
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
This Practice Note considers the doctrine of forum non conveniens, also referred to as the appropriate forum or the proper place for a dispute to be determined. This doctrine is of relevance when determining whether the courts of England and Wales have jurisdiction to hear a dispute and is applied
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