Part 55 of the CPR which deals with possession proceedings is
being amended from 1 October. The amendments are as follows:
Unauthorised tenants living in a mortgaged property are allowed
to apply to the court for postponement of the date of delivery of
A lender must notify all tenants/occupiers of a property before
taking steps to enforce a possession order. The notice must be in a
prescribed form. The order cannot be enforced until 14 days after
notice has been given.
An unauthorised tenant may then apply to the lender for a delay
in execution to allow the tenant time to find another home. If the
lender does not agree to an extension of time the unauthorised
tenant may apply to the court for a decision.
Note: Form N325 is amended to support this change.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
In the European loan markets, it is increasingly common for lenders to require their borrowers (and other "Obligors") to provide sanctions-related representations and undertakings (sanctions confirmations) in their facility agreements.
Pursuant to Article 67 of the Directive 2011/61/EU on Alternative Investment Fund Managers ("AIFMD"), the European Securities and Markets Authority ("ESMA") has until 22nd July 2015 to issue to the European Parliament, the Council and the Commission
International regulatory bodies, working alongside their regional and national counterparts, have spent over six years attempting to mend the global financial system by strengthening its stability and resilience.
The autonomy principle is fundamental to the utility of letters of credit (LCs). Under this principle, a bank must pay against a presentation of documents that appear on their face to comply with the credit
Shakespeare's often misquoted suggestion, "first kill all the lawyers", still sells very successfully on mugs and T-shirts. It is likely that had he referred to bankers instead, merchandise sales would currently be at least as successful.
Mark Carney, Governor of the Bank of England, gave a speech to the Monetary Authority of Singapore targeting bankers’ fixed pay as well to make bankers more personally accountable and to change their behaviour.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”