The following Restructuring & Insolvency Q&A provides comprehensive and up to date legal information covering:
The Third Parties (Rights Against Insurers) Act 2010 (TP(RAI)A 2010) applies if the company is in administration, liquidation or subject to a company voluntary arrangement (CVA). One of the main improvements under TP(RAI)A 2010 is that a third party can bring proceedings against the insurer without establishing liability. However, the insured's liability will still have to be established (both its existence and amount) before those rights can actually be enforced, although this can now be done by way of a relatively cheap and quick court declaration (as well as judgment, settlement or arbitration award). In practice, this means that the third party only needs to issue one set of proceedings against the insurer seeking declarations from the court both on:
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Broadly, the doctrine of overreaching enables purchasers (which includes tenants and mortgagees) in good faith for money or money’s worth to rely solely on the legal title. In the case of registered land, this means the entries entered on the register of title, as it records ownership of the legal
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