The following Family practice note provides comprehensive and up to date legal information covering:
This Practice Note sets out the basic principles to be applied when drafting a financial consent order including the preparation and structure of the draft order, together with details of the financial remedy omnibus issued as part of the standard orders project. It includes guidance on undertakings, provisions as to periodical payments and pensions and drafting an order where there are issues as to potential insolvency. It also sets out the steps to take to lodge the consent order at court.
Standard financial orders have been issued as part of the standard orders project, see Practice Note: Standard orders—general principles and Precedent: Standard order 2.1—financial remedy order—omnibus for a precedent consent order. The use of the standard orders has been strongly encouraged by the President of the Family Division, see News Analysis: Financial and enforcement standard orders to be placed on a more ‘formal footing’.
From 6 April 2020, provision is made in the Family Procedure Rules 2010 (FPR 2010) by FPR 2010, PD 41B (Proceedings by electronic means: procedure for an application for a consent order for a financial remedy in connection with divorce proceedings) as to the procedure by which, in the circumstances provided for in the Practice Direction, an application for a consent order for a financial remedy in connection with certain proceedings for a matrimonial order may proceed by electronic means—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
When defendants are guilty, they have a choice to plead guilty or to put the prosecution to proof. When they plead guilty they may benefit from a reduction in their sentence as a result, see Practice Note: Credit for guilty plea. However, the Sentencing Council's overarching guidelines on reduction
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:
On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a lease, but this is rare in practice.
Company directors are not, by virtue only of their office as director, automatically entitled under company law to remuneration for services as a director or to reimbursement of expenses incurred in rendering such services. Power to pay directors remuneration for their services will need to be
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.