The following Wills & Probate Q&A provides comprehensive and up to date legal information covering:
Where any judgment or order is made by the court against a party or non-party to litigation for the payment of a sum of money, that judgment or order is binding on their personal representatives (PRs) who will usually be substituted for the deceased party to any ongoing litigation under CPR 19.2(4)(a).
Under CPR 44.7(1), the time for complying with an order for costs is 14 days from the date of the order under CPR 44.1(1)(a), unless the court specifies otherwise under CPR 44.7(1)(c).
The deceased beneficiary’s PRs are bound to satisfy all and any judgments and orders against the deceased beneficiary so far as they may be able from the assets in the deceased beneficiary’s estate.
Under section 421(4) of the Insolvency Act 1986, an estate is insolvent where its value is insufficient to meet all the deceased’s debts and liabilities in full. Where an estate is, or is likely to be, insolvent, the estate must, until all debts and expenses have been paid, be administered for the benefit of the deceased’s creditors and not the beneficiaries. An estate is not insolvent where there are insufficient funds to satisfy the gifts contained in a Will or under the intestacy rules as the gifts will abate. PRs are likely to be held to be personally liable for a ‘devastavit’ if they distribute an estate to beneficiaries without
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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.
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Background to the Single RulebookHistorically, the European Commission (Commission) favours using Directives (rather than Regulations) to set out its legislation in respect of the financial services sector. However, Directives, allowing Member States greater flexibility in how they implement
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