Security review

Practice notes

The National Security and Investment Act—implications for finance transactions

The National Security and Investment Act—implications for finance transactionsThis Practice Note summarises key provisions of the National Security...

14th Jun

Practice notes

Electronic signatures

Electronic signaturesCoronavirus (COVID-19): This Practice Note contains guidance on subjects potentially impacted by procedural changes in response...

14th Jun

COVID-19

In-house

Practice notes

The title register—contents, effect and conclusiveness of registration

The title register—contents, effect and conclusiveness of registrationThe registerEach individual register consists of a property register, a...

10th Jun

Practice notes

Avoiding invalid floating charges under section 245 of the Insolvency Act 1986

Avoiding invalid floating charges under section 245 of the Insolvency Act 1986Avoiding floating charges—the conditions requiredUnder section 245 of...

9th Jun

Practice notes

The effect of insolvency on guarantees

The effect of insolvency on guaranteesWhat is a guarantee?A guarantee is an agreement between one person/entity (the guarantor) and another...

8th Jun

Q&As

Can a liquidator or administrator able to sell a property which is subject to a restriction on the proprietorship register at HM Land Registry without complying with the restriction?

Can a liquidator or administrator able to sell a property which is subject to a restriction on the proprietorship register at HM Land Registry without...

6th Jun

Q&As

When dealing with an insolvent estate, do registered charges (ie mortgages) take priority over debts secured by restrictions (ie County Court judgment debts) or are they all classed as ‘secured debts’ and given the same priority?

When dealing with an insolvent estate, do registered charges (ie mortgages) take priority over debts secured by restrictions (ie County Court judgment...

Produced in partnership with Chris Adams of Gosschalks 6th Jun

Q&As

Is a security document dated (ie completed) and filed at Companies House after the date of administration, but executed as a deed by the mortgagor (by its directors) prior to the appointment, valid and enforceable against the administrators?

Is a security document dated (ie completed) and filed at Companies House after the date of administration, but executed as a deed by the mortgagor (by...

6th Jun

Q&As

Company A has the benefit of a debenture from company B. B intends to enter a creditors voluntary liquidation which is an event of default under the debenture. B has not missed a payment due to A and there is no accelerated payment clause. Can A appoint an administrator/receiver to B, and does the security cover the full debt or only the outstanding amount?

Company A has the benefit of a debenture from company B. B intends to enter a creditors voluntary liquidation which is an event of default under the...

6th Jun

Q&As

If the ‘mortgagor’ under the relevant charge is four persons and the demand is only sent to three of the four relevant parties, is the subsequent appointment of the receivers valid?

If the ‘mortgagor’ under the relevant charge is four persons and the demand is only sent to three of the four relevant parties, is the subsequent...

6th Jun

Q&As

If a company is no longer at its registered office, how do you serve a statutory demand on it?

If a company is no longer at its registered office, how do you serve a statutory demand on it?For the purpose of answering this Q&A, we have not...

6th Jun

Q&As

What are the consequences of a winding up petition on a proposed restructuring?

What are the consequences of a winding up petition on a proposed restructuring?STOP PRESS: From 6 April 2017, the Insolvency Rules 1986, SI 1986/1925...

5th Jun

Q&As

What does ‘substantially the whole’ mean in the context of a QFC appointment?

What does ‘substantially the whole’ mean in the context of a QFC appointment?Where is it relevant?Paragraph 14(1) of Schedule B1 to the Insolvency Act...

5th Jun

Q&As

As a trustee in bankruptcy are there any steps which can be taken to prevent a mortgagor from appointing an LPA receiver?

As a trustee in bankruptcy are there any steps which can be taken to prevent a mortgagor from appointing an LPA receiver?The power to appoint a...

Produced in partnership with Natalie Brown of Radcliffe Chambers 5th Jun

Q&As

What power does a liquidator have to challenge the validity of a fixed charge over the company in liquidation’s property?

What power does a liquidator have to challenge the validity of a fixed charge over the company in liquidation’s property?General powers of a...

5th Jun

Q&As

If a lender makes a loan to a company in a company voluntary arrangement (CVA) which is secured by way of a legal charge, can the lender then rely on the existing CVA as an insolvency event of default in order to enforce the security a few weeks later?

If a lender makes a loan to a company in a company voluntary arrangement (CVA) which is secured by way of a legal charge, can the lender then rely on...

5th Jun

Q&As

What are the consequences of taking or granting security in breach of a negative pledge?

What are the consequences of taking or granting security in breach of a negative pledge?What is a negative pledge?A negative pledge is a contractual...

5th Jun

Q&As

My finance document has been executed, but one of the required signatories has signed in the wrong place. What should I do?

My finance document has been executed, but one of the required signatories has signed in the wrong place. What should I do?A properly drafted finance...

5th Jun

Q&As

Does a mortgagee automatically become a mortgagee in possession if it enforces its security? Why does it matter?

Does a mortgagee automatically become a mortgagee in possession if it enforces its security? Why does it matter?This Q&A discusses the circumstances...

Produced in partnership with Brian Cain 5th Jun

Q&As

What could be the impact if the bank loses title deeds held by it as mortgagee?

What could be the impact if the bank loses title deeds held by it as mortgagee?The impact of losing title deeds depends primarily on whether the title...

Produced in partnership with James Hall of Hardwicke Chambers 5th Jun

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