Receivership in UK Law
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Capewell v HM Revenue and Customs
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It has always been a basic principle of receivership that the receiver is entitled to be indemnified in respect of his costs and expenses, and his remuneration if he is entitled to be remunerated, out of the assets in his hands as receiver. Warrington J stated the principle in a well-known passage in Boehm v Goodall [1911] 1 Ch 155, 161:
I have set out the decision in Hughes at some length because it does in my opinion state clearly and correctly the somewhat opaque relationship between the general law of receivership and the detailed provisions of CJA 1988. The real issue in this appeal is not whether Hughes was rightly decided, but whether it is no longer good law as a result of the coming into force of CPR 69.7.
In my opinion CPR 69.7 has not had that far-reaching and surprising result. The function of CPR 69 is to set out a procedural code applicable to the generality of receiverships of all types. Its text gives no indication that its draftsman had particularly in mind the new species of receiverships in support of restraint orders and confiscation orders.
A receiver takes on heavy responsibilities when he accepts appointment, and he is entitled to the security of knowing that the terms of his appointment will not be changed retrospectively—even if an appellate court later decides that the receivership should have been terminated at an earlier date.
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Sinclair v Glatt and Others
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It is now settled that such a receiver, like a receiver at common law, is entitled to recover his remuneration, costs and expenses from the assets which he has been appointed to receive (“the receivership assets”). That is so whether or not he ought to have been appointed in the first place or the order appointing him has been discharged, see Mellor v Mellor [1992] 1 WLR 517.
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Powdrill and Another v Watson and Another ; Talbot and Another v Cadge and Another ; Talbot and Another v Grundy and Another
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Gomba Holdings U.K. Ltd v Minories Finance Ltd
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The result is that the receiver, in the course of the receivership, performs duties on behalf of the debenture holder as well as the mortgagor. And these duties may relate closely to the affairs of the entity which is the subject of the receivership.
- Receivership
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Communications: Annual Report 1999
When the Royal Institute of Public Administration (RIPA) owned Public Adminis‐tration, the editors always reported annually on the journal’s fortunes. The practice lapsed when the RIPA went into re...... ... The practice lapsed when the RIPA went into receivership. Now, with the launch of the journal as a European journal of public administration, we thought it was a good idea to reintroduce an annual report ... ...
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GRANT ADAMS V THE QUEEN
This appeal to the Judicial Committee of the Privy Council (JCPC), which is still the highest court of appeal for certain Commonwealth jurisdictions, concerned conduct associated with the Equiticor...... ... On 22nd January, 1989, the whole group was placed into statu-tory receivership and the shares in EHL became worthless. The chair-man of the Board of EHL and managing director, a Mr Hawkins, along with companies associated with ... ...
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WHAT HAPPENED TO THE RIPA?
The financial history of the RIPA from its incorporation as a company in 1976 to 1989 was a volatile one; but there had been sufficient good years to justify cautious optimism as we entered 1990/91...... ... The Council had no alternative but to proceed to receivership. As I hope most people now know the Royal Institute of Public Administration, after a distinguished history spanning seventy ... ...
- Disposal Of Assets To Discharge Debt Ahead Of Enforcement By Receivership
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At Her Majesty‘s Pleasure? Directors of ‘can pay, won‘t pay’ award debtors face the prospect of an extended stay in England should they choose to defy a receivership order granted by the English Court in aid of enforcement.
The grant by Males J of an order for the appointment of receivers by way of equitable execution in relation to foreign assets held by two arbitration award debtors, Unitech Limited (”Unitech”) and ...
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Tenants 3 - 0 Landlords: Another Decision On Payment In Lieu Of Repairs
... ... [2014] CSIH 43 and @SIPP (Pension Trustees) Ltd v Insight Travel Services Ltd [2014] CSOH 137 - Mapeley Acquisition Co (3) Limited (In Receivership) v City of Edinburgh Council [2015] CSOH 29. Again, the court found that the landlord's entitlement to demand payment in lieu of repairs did not ... ...
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Where Does A Commercial Landlord Stand When Its Tenant Becomes Insolvent?
... ... In the case of companies, these can include company voluntary arrangements, administration, administrative receivership, Law of Property Act receivership or liquidation. In the case of individuals, they might include individual voluntary arrangements or bankruptcy ... ...
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Apply to become someone's deputy (make a declaration)
Court of Protection forms including the COP1 application to make decisions on someone's behalf.... ... partnership or otherwise) been subject to a recognised insolvency regime ... (e.g. voluntary arrangement, winding-up, administration, receivership, ... administrative receivership)? ... If Yes, please provide details ... Have you been the subject of a declaration under section 213 (fraudulent ... ...