The following Restructuring & Insolvency practice note provides comprehensive and up to date legal information covering:
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for R&I?
This Practice Note considers the key provisions of the Third Parties (Rights Against Insurers) Act 2010 (the 2010 Act), which replaced the Third Parties (Rights Against Insurers) Act 1930 (the 1930 Act) from 1 August 2016. The provisions may assist where the insured has become insolvent as it allows a third party which has suffered loss to make a claim against another party’s insurer directly in certain cases (the claimant is called the third party as they are not a party to the insurance contract). This is a huge advantage to the third party who may potentially recover 100% of their claim for the deep pockets of the insurer, rather than having to claim in the insolvency of the insured and rank as an unsecured creditor where they may only recover a fraction of the original claim. In essence, the legislation
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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
What is a res judicata?A res judicata is a decision given by a judge or tribunal with jurisdiction over the cause of action and the parties, which disposes, with finality, of a matter decided so that it cannot be re-litigated by those bound by the judgment, except on appeal.Final judgments by
ContractWhere 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 several in contract is a question of construction
LiabilityFalse imprisonment consists of the complete deprivation of liberty without a lawful basis. Claims will in practice be made against a public body that exercises detention powers, usually a local police force, the Secretary of State for the Home Department or the Secretary of State for
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