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Checklist—The Diffuse Mesothelioma Payments Scheme

Checklist—The Diffuse Mesothelioma Payments Scheme This Checklist outlines the key aspects of the Diffuse Mesothelioma Payments Scheme which was set up in July 2014 to make payments to victims of mesothelioma who are unable to trace either a liable insurer or their employers’ liable insurer. The key aspects of the Diffuse Mesothelioma Payments Scheme are: Provision The law The detail Comment Eligible applicants Section 2 of the Mesothelioma Act 2014 (MA 2014) A claimant is eligible for payment if 'a relevant employer has negligently or in breach of statutory duty caused or permitted the person to be exposed to asbestos'The claimant must not have already brought a claim for damages against an insurer or employerThey must be 'unable to bring an action' because the employer or insurer 'cannot be found or no longer exists or for any other reason'The claimant must not have received damages or 'a specified payment' or be entitled to received such a payment in respect of their mesothelioma This eligibility criteria can be problematic for...

Probate claim procedure—table

Probate claim procedure—table This table provides an outline of the procedure where there is a probate claim. For further guidance, see: Practice and procedure—contentious trusts and estates—overview and Probate actions (probate claims)—overview. Action CPR Issue of claim form If Claimant is a child or protected party follow CPR Part 21 in relation to appointment of litigation friend. CPR 21.1–CPR 21.6 Claimant prepares claim form (Form N2), with a copy for filing and further copies for service on each Defendant. CPR 7.2, CPR 57.3 Claim form must contain a statement of the nature of the interest of Claimant and of each Defendant in the estate of the deceased to which the claim relates. CPR 57.7(1) Particulars of claim may be contained in claim form (or served separately (see below)). CPR 7.4(1)(a) If the proposed claim is for revocation of grant: Every person who is entitled or claims to be entitled to administer the estate of the deceased under an unrevoked grant of probate of the Will or letters...

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Inheritance (Provision for Family and Dependants) Act 1975 applicant—flowchart

Inheritance (Provision for Family and Dependants) Act 1975 applicant—flowchart This flowchart deals with the classes of applicants that may make a claim for reasonable provision from the deceased’s estate under the Inheritance (Provision for Family and Dependants) Act 1975 (I(PFD)A

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Money Laundering Regulations 2017—scope and application

Money Laundering Regulations 2017—scope and application This Practice Note sets out the scope and application of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692, as amended. Scope The MLR 2017 form part of the UK’s overall anti-money laundering (AML), counter-terrorist financing (CTF) and counter-proliferation financing regime. They set administrative requirements which run parallel to the criminal element of the regime contained in the Proceeds of Crime Act 2002 (POCA 2002), the Terrorism Act 2000 (TA 2000) and various pieces of sanctions legislation. There is some overlap. The MLR 2017 have been amended a number of times since coming into force in June 2017. See further Practice Note: Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017—key information for businesses. Application The MLR 2017 apply to: • relevant persons, ie: ◦ credit institutions ◦ financial institutions ◦ cryptoasset exchange providers ◦ custodian wallet providers ◦ auditors, insolvency practitioners, external accountants and tax advisers...

Local housing companies

Local housing companies Housing delivery Over a number of years the term local housing company (LHC) has had various meanings in the context of housing delivery vehicles. It was first used post Housing Act 1996 in the context of large scale voluntary transfer of urban estates to a company which had equal representation of the local housing authority (LHA), tenant and independent members and often attracted Government subsidy for example, from the then Estates Regeneration Challenge Fund (ERCF). See Practice Note: Housing stock transfer. The term LHC appeared again in the Housing Green Paper, 'Homes for the future: more affordable, more sustainable', in July 2007. The model on this occasion as envisaged by English Partnerships (subsequently the Homes and Communities Agency and now Homes England), involved a 50:50 long-term corporate joint venture between the LHA and a private sector partner established to develop local authority land. The term LHC today is used to describe independent arms-length commercial organisations wholly or partly owned by LHAs which develop, buy...

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Property indemnity for a share purchase agreement

Property indemnity clause for insertion into a share purchase agreement Indemnity clause

Property warranties (short-form) in an asset purchase

Property warranties and definitions to include in a short-form asset purchase agreement 1 Definitions In this Agreement, unless the context otherwise requires: Encumbrance means any mortgage, claim, charge (fixed or floating), pledge, lien, hypothecation, guarantee, right of set-off, trust, assignment, right of first refusal, right of pre-emption, option, restriction or other encumbrance or any legal or equitable third party right or interest including any security interest of any kind or any type of preferential arrangement (or any like agreement or arrangement creating any of the same or having similar effect) and Encumbrances means more than one of them; Freehold Properties ...

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What is the position of a security holder if the company that created the security is dissolved?

What is the position of a security holder if the company that created the security is dissolved? This Q&A focuses on the impact the dissolution of a security provider can have on the ability of a security holder to effectively enforce its security. It also considers the position of a receiver appointed by the security holder prior to the dissolution of the relevant company. Summary If a security provider is dissolved as a matter of English law it is normally still possible for the security holder to enforce the security it holds by exercising the mortgagee’s power of sale. There may be circumstances in any particular case that make an application to restore the dissolved company to the register desirable to protect the security holder’s position. Circumstances where this issue commonly arises The problems associated with a security provider being dissolved while security is in force occur most often in real estate finance and other asset finance transactions. Typically, these issues arise where a special purpose...

How might the European Commission proposal for new conflict of law rules for assigned claims impact the secondary loan market?

How might the European Commission proposal for new conflict of law rules for assigned claims impact the secondary loan market? Summary This Q&A refers to the European Commission’s proposal for a Regulation on the law applicable to the third-party effects of assignments (the Proposal) published on 12th March 2018, which could have an impact on the market for trading participations in syndicated and bilateral loans. Both of the Loan Market Association (LMA) and the City of London Law Society made representations asking for the Proposal to be shelved or at least amended to accommodate current market practice in the secondary loan market. Their representations are available on their respective websites. It is fair to say that in its original form the Proposal would have disrupted the secondary loan market by making due diligence on the part of a buyer much more complicated for the reasons given below. The UK indicated on 9 July 2018, shortly after publication of this Q&A, that it would not opt in...

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HM Land Registry updates Practice Guide 6

HM Land Registry (HMLR) has updated Practice Guide 6—Devolution on the death of a registered proprietor. HMLR has clarified the guidance in the third paragraph of section 4 concerning the death of a joint proprietor, where the legal estate vests in the surviving registered proprietor(s).

RICS provides insight on ESG risks in real estate

The Royal Institution of Chartered Surveyors (RICS) recently held a webinar where experts addressed environmental, social and governance (ESG) risks, resilience, and adaptation in real estate, highlighting the importance of adapting business models and leveraging technology to mitigate these risks.