The appointment of a receiver is a method by which a mortgagee (lender) can ensure that the mortgaged property is efficiently managed and that the rents and profits are paid first towards the interest due under the mortgage. A receiver may be appointed by a mortgagee out of court under an express or statutory power, or by the court itself. Where the receiver is appointed under the statutory or an express power, they are deemed to be the agent of the mortgagor. Appointing a receiver out of court will normally be a faster and less expensive

In general terms, all property (as so broadly defined) belonging to or vested in the bankrupt at the commencement of the bankruptcy forms part of the bankruptcy estate and will vest automatically in the trustee in bankruptcy (trustee) immediately upon their appointment. Any interest in real property held by the bankrupt at the date the bankruptcy commences will vest in the trustee. This would include the legal title and the right to be registered as the legal proprietor where the bankrupt is the sole owner. See Practice Note: What assets vest in the trustee in bankruptcy and what steps does the official receiver or trustee in bankruptcy need to take? The Practice Note: Property that vests in the trustee in bankruptcy on bankruptcy and how the trustee in bankruptcy ascertains the extent of their interest in it outlines the actions that need to be undertaken by the trustee in bankruptcy in order to realise the value of the assets.

The CPR and relevant Practice Directions appear to be silent on this specific issue and we have been unable to find any guidance on this point. We have therefore set out below information which could be useful. We refer you initially to Practice Note: Witness summons for information on an application for a witness summons. CPR 34.2 sets out: (1) A witness summons is a document issued by the court requiring a witness to— (a) attend court to give evidence, or (b) produce documents to the court (4) A witness summons may require a witness to produce documents to the court either— (a) on the date fixed for a hearing; or (b) on such date as the court

Landlords should be particularly careful in dealing with Rent Act tenancies when the tenant has died. The mere fact of death only gives the landlord the right to possession if the tenancy is already statutory and there is no statutory successor (either because no one satisfies the requirements or because no further transmission is possible). If the tenancy was protected at the time of the tenant's death, the continued existence of the tenancy afterwards operates to bar the landlord's right to possession: Preston Borough Council v Fairclough. Hence if the tenancy was protected rather than statutory, and

Part II of the Landlord and Tenant Act 1954 (LTA 1954) provides that unless its provisions are specifically excluded, a business tenancy will continue in force after its expiration unless brought to an end by following the procedure contained within the LTA 1954 (LTA 1954, s 24). That section also provides the right for the landlord or the tenant to apply for an order for the grant of a new tenancy. As a result, a business tenancy can be determined only by the landlord giving a LTA 1954, s 25 notice which is either not opposed by the tenant or if opposed, an application for termination under LTA 1954, s 29(2) is brought; a request by the

A remainder interest under a trust is a chose in action and can be assigned by an instrument in writing inter vivos signed by the assignor or by their Will (section 53(1)(c) of the Law of Property Act 1925 (LPA 1925)). Although notice to the trustee of a disposition of an equitable

If a creditor wishes to appear at the hearing of a bankruptcy petition (or even take over the bankruptcy petition), then they must give the petitioning creditor notice of their intention to appear by 4 pm on the business day before the hearing. While the notice is a free-form document, it must contain the following:

The personal representatives (PRs) of the estate have a duty to collect in the estate assets and, once all liabilities and administration expenses have been settled, to distribute according to the deceased’s Will. The wording of the Will should be considered carefully to ascertain whether the car and number plate would pass as chattels (to a named individual or to the PRs as trustees), as a specific legacy or would indeed fall into residue. The first step for the PRs will often be to value the assets in the estate in order to prepare

If the debtor objects to the making of a bankruptcy order, they must, not later than five business days before the hearing,

The particular steps to be carried out in relation to the transmission of shares in a limited company, and any problems arising as a consequence of such, is dependent on a number of factors that will be specific to each situation, including the terms of issue of the shares in question, the provisions of the company’s articles and the terms of any shareholders' agreement relating to those shares. Under section 773 of the Companies Act 2006, on a shareholder's death, the legal title to their shares passes automatically (ie by operation of law) to their personal

STOP PRESS: From 6 April 2017, the Insolvency Rules 1986, SI 1986/1925 were revoked and replaced by the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024. The content in this Q&A may have been affected by this change. It is not clear from the Q&A as to the origins of the debt and whether a demand (statutory or otherwise) has been served on the debtor. It is also necessary to consider if the debtor is ‘domiciled’ in England and Wales, as for the purposes of presenting a bankruptcy petition, a creditor (nor a debtor himself) cannot present a petition unless the debtor is domiciled in England or Wales. A person’s domicile is the

Where a party wishes to accept a Part 36 offer, CPR 36.11(1) requires that the party simply accepts by ‘serving written notice of acceptance on the offeror’. This is supplemented by CPR PD 36, para 1.2 which notes that any notice of acceptance must be served on the offeror’s legal representative (if appointed and on the record). A party seeking to accept the offer can complete the ‘Notice of Acceptance’ which is included as an