The following Dispute Resolution practice note provides comprehensive and up to date legal information covering:
Third party debt orders were previously known as 'garnishee' orders and operated under the regime provided for in CCR Ord 30 and RSC Ord 49 (now revoked). Although the rules in CPR 72 are new, many of the principles with which they are concerned are well established. Accordingly, case law concerning garnishee orders remains highly relevant, but will be applied, in respect of procedural matters, subject to the overriding objective for the court to deal with cases justly in accordance with CPR 1.2.
A third party debt order is a method of enforcement by which a judgment creditor may enforce a debt against money due and owing to the judgment debtor by a third party who is within the jurisdiction. This includes money held in the judgment debtor's name in a bank or building society or money owed to a self-employed judgment debtor in the course of his trade. It also includes in principle money held in a client account by a solicitor (see BCS Corporate Acceptances Ltd v Terry, see also News Analysis: Enforcing against funds in a solicitor’s client account (BCS Corporate Acceptances Ltd v Terry)). The court has a discretion whether to grant a third party debt order and whether they do so will be dependant on the circumstances at the time of enforcement.
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This Practice Note provides an introduction to intercreditor agreements and their key provisions. This Practice Note:•explains the purpose of having an intercreditor agreement and when an intercreditor agreement would be used instead of a deed of priority or subordination deed•provides links to
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There may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the shoes of one of the original parties. This is
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