The following Arbitration precedent Produced in partnership with Hamid Khanbhai of 4 New Square provides comprehensive and up to date legal information covering:
CLAIM NO: [insert claim number]
IN THE HIGH COURT OF JUSTICE
business and property courts of england and wales
Commercial court (QBD)
In the high court of justice
business and property courts in [insert location]
[specify specialist court]
BEFORE [insert judge’s name]
IN THE MATTER OF THE ARBITRATION ACT 1996
AND IN AN ARBITRATION CLAIM
[insert Claimant’s name]
[insert Defendant’s name]
AND IN THE MATTER OF AN ARBITRATION
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This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:
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
Disposal and devolutionThe equity of redemption arises as soon as the mortgage is made. It is an interest in the land which the mortgagor can:•transfer, lease or mortgage inter vivos, or•by will (it passes on intestacy)No cloggingIt is a fundamental principle of a mortgage that there must be no clog
Deceit—what is it?A deceit occurs when a misrepresentation is made with the express intention of defrauding a party, subsequently causing loss to that party.The elements of a claim in deceit are:•a clear false representation of fact or law•fraud by the maker, in the sense that they knew that the
0330 161 1234
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