Sale and leaseback schemes
The court was asked here to determine preliminary issues in 9 test cases concerning the controversial sale and lease back schemes. These schemes enabled the occupiers of property to sell their property...
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Financial institutions
The Team
Latest news and views about Financial institutions
RSSClaim of privilege failed
A lender requested copies of the complete file from a defendant firm of solicitors who acted for both the lender and the borrower on a conveyancing transaction. The defendant solicitors claimed that...
Charging orders
A creditor obtained a charging order over a property based on a judgment in which a company had been ordered to pay £11,500 in costs. In addition, the company had been ordered to pay into court the sum...
Is a guarantee liability a liquidated sum?
Is a creditor entitled to bring bankruptcy proceedings in respect of a guarantee and indemnity?
In this case , the question the court asked was whether a guarantee liability, is a liability for a...
VAT on professional fees for company in financial difficulties
A recent VAT decision of the Upper Tribunal will be of interest to companies in financial difficulty and their advisers.
HMRC v Airtours Holiday Transport Ltd [2010] UKUT 404 (TCC)
A large holiday...
Charging orders
The OFT has announced that it has uncovered problems about the use of charging order by some lenders.
Problems uncovered by the OFT's investigation were specific to each business, as set out in the...
Overriding interests
This recent case considered whether a person who had an overriding interest can be taken to have authorised a charge and so be bound by it.
Mrs Qutb had suffered from Alzheimer’s disease for a number...
The impact of settling a case in a multi-party situation
What happens if you reach a settlement with one party, but not others?
In this case, Chelsea Building Society had repossessed and then sold a property, but then wished to pursue the mortgagors for...
The ability to marshall
Where one debtor owes different debts to two or more creditors, but one of the creditors can enforce its claim against more than one security and the other can only resort to one, the equitable principle...
Valuer’s liability in respect of its valuation of the rental income
Is a valuer liable for any losses incurred in respect of its rental valuation as well as its valuation of the capital value of a property?
In March, this year the court held that a valuer had breached...
