The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
Security over land can be taken by way of mortgage or charge with the appropriate form often depending on the significance of the land to the borrower's business or the relevance of the land to the particular transaction. Where the land is considered a material asset or the loan is used to acquire or develop land, lenders are more likely to require a legal mortgage. If the land is a less significant asset, lenders may be prepared to accept an equitable mortgage or charge. For more information on the potential security available, see Practice Note: Types of security.
To perfect security over land granted by a company registered in England & Wales, the security is registered at Companies House. In the case of land in particular, if the security is in respect of registered land and is intended to take effect as a legal mortgage, the security must also be registered at HM Land Registry. If the security is in respect of unregistered land, granting security will usually trigger first registration of the land at HM Land Registry. Where granting security does not trigger first registration, the security interest can in some cases be registered at the Land Charges Department. For more information on perfecting security and registration, see Practice Note: Perfecting security over land.
If a company cannot meet its obligations under a
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Breach of statutory dutyThis Practice Note considers claims for damages for breach of statutory duty. For guidance on claims for damages for a negligent breach of duty of care outside a statutory duty, see Practice Notes:•Negligence—when does a duty of care arise?•Negligence—when is the duty of care
Hearsay evidence in civil litigationThis 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.This Practice
Joint, several, and joint and several liabilityContractWhere a contract is made by two or more parties it may contain a promise or obligation made by two or more of those parties. Any such promise may be:•joint•several, or•joint and severalWhether an undertaking is joint, several, or joint and
Sale of treasury sharesA limited company may hold, or deal with, shares in itself, if certain conditions set out in the Companies Act 2006 (CA 2006) are met. Those shares are held in treasury and referred to as the company's treasury shares.The treasury shares regime is set out in CA 2006, ss
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