The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
This Practice Note focuses on what is thought of as traditional real estate finance ie lending against the cash flow generated by a property. In its simplest form, traditional real estate finance involves a loan to a borrower which is repaid from the rental income of the borrower’s property. (Other methods of investing in real estate finance include sale and leaseback, real estate investment trusts, jersey property unit trusts and property derivatives. For more information, see: Methods of investing in real estate—overview).
Real estate finance transactions are either investment finance transactions or development finance transactions, depending on whether the property is being purchased as an investment (ie it is already generating revenue) or whether the property is being purchased to be developed. For more information, see Practice Notes:
Real estate finance—investment facilities—key features, and
Real estate finance—development facilities—key features
The Loan Market Association (LMA) has published standard form facility agreements for both investment and development real estate finance transactions which can be used as a starting point in these types of transactions. These are:
the Single Currency Term Facility Agreement for Real Estate Finance Multiproperty Investment (LMA REF Investment Facility Agreement)—whereby a loan facility is provided to a borrower for it to purchase a property (or a group of properties). For more information, see Practice Note: LMA real
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Voluntary manslaughterVoluntary manslaughter consists of those killings which would be murder (because the accused has the relevant mental element for murder) but which are reduced to manslaughter because of one of the three special defences (loss of control, diminished responsibility or suicide
An ad hoc arbitration is any arbitration in which the parties have not selected an institution to administer the arbitration. This offers parties flexibility as to the conduct of the arbitration, but less external support for the process. It can be quicker than institutional arbitration but not if
This 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.Note: this Practice Note does not deal with the
What is recklessness?In respect of some statutory offences and common law crimes the prosecution are required to prove a mental element of recklessness on the part of the defendant.Recklessness means unjustified risk taking on the part of the accused.Prior to the House of Lords decision in Re G
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