The following Wills & Probate practice note provides comprehensive and up to date legal information covering:
The disappearance of a person does not automatically enable others to take control of that person's affairs or their property ownership. That can create immense difficulties if, for instance, a property is owned solely by the missing person or with others, whether as joint tenants or tenants in common. With an indication of death but an inability to obtain a death certificate the missing person will, for all legal purposes, be deemed to be alive. Those left behind have the choice of trying to trace the missing person or attempting to prove that they are, or likely to be, dead.
Tracing a missing person is the first step. All necessary enquiries will have to be made to endeavour to prove that the missing person is likely to be dead rather than evading being found. There are a number of means and organizations that can be used. These include:
the charity 'Missing People'—a specialist charity dedicated to bringing missing children and adults back to their families
The National Crime Agency UK Missing Persons Unit—this is both a national and international contact point for all missing persons and unidentified body cases supplying expertise on the subject of missing persons
the Salvation Army—their Family Tracing Service helps people trace living relatives with whom contact has been lost, although they do not look for relatives for
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This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors.This
Statutory declaration of solvencyA company enters voluntary liquidation when the members of the company vote to do so by a special resolution. For more information, see Practice Note: What is a members' voluntary liquidation (MVL) and where/when is it typically used?Before the members can vote on a
Express and implied contractual terms distinguishedContractual terms may be either express or implied:•express terms—are terms which are actually recorded in a written contract or openly expressed in an oral contract at the time the contract is made (or there may be a combination of written and oral
A limited company that proposes to issue redeemable shares must comply with the provisions of the Companies Act 2006 (CA 2006).Why do companies issue redeemable shares?A company may wish to issue redeemable shares so that it has an alternative way to return surplus capital to shareholders without
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