Indentures governing high yield and investment grade notes typically provide for a make-whole or other premium to be paid if the issuer redeems the underlying notes prior to maturity. The premiums are intended to compensate the investor for the loss of the bargained-for stream of income over a fixed period of time.[1] Generally, though, under New York law, a make-whole or other premium is not payable upon acceleration of notes after an event of default absent specific indenture language to the contrary.
Het is pandhouders op grond van artikel 3:246 lid 1 Burgerlijk Wetboek (BW) toegestaan om een pandrecht op vorderingen uit te winnen door middel van het opeisen van de vordering. Deze bevoegdheid omvat tevens het recht om zekerheidsrechten uit te winnen die aan de verpande vordering zijn verbonden. Dit is bevestigd in een arrest van de Hoge Raad van 18 december 2015 (ABN AMRO / Marell).
Feiten
Pursuant to Article 3:246 paragraph 1 of the Dutch Civil Code (DCC) pledgees have the power to enforce their right of pledge on receivables by claiming (direct) payment of the receivable. This power also includes the right to enforce rights of pledge that in their turn have been granted as security for the repayment of the pledged receivable. The Supreme Court confirmed this in its judgement of 18 December 2015 (ABN AMRO / Marell).
Keeping children safe in education – revised statutory guidance
On 5 September 2016, the Department for Education’s revised guidance, ‘Keeping children safe in education’, came into force. The document is the Government’s statutory guidance which all schools, academies and colleges must have regard to when carrying out their duties to safeguard and promote the welfare of children.
For the past decade, shipping companies in every sector have faced continuing challenges from, among other things, declining demand, low charter rates, and an oversupply of new and more modern vessels. These factors have eroded second-hand vessel values and caused financial distress and insolvency for many shipping companies, requiring out of court financial restructurings and, in some cases, U.S. bankruptcy filings.
Dixon v Radley House Partnership (A Firm) [2016] EWHC 2511 (TCC)
The claimant (D) brought negligence proceedings against the defendant (R) a firm of architects, for refurbishment works.
In the draft claim form, D had referred to a loss of £35,894.00 allegedly caused by negligent misrepresentation on the part of R, who had been instructed on 27 October 2007.
The draft claim form and the fee were prepared up to a value of £50,000.00 and were received by the court on 25 October 2013, less than six years after the cause of action arose.
Introduction
Summary
- The farming and agricultural sector continues to experience financial pressures.
Introduction
On 1 July 1997, Hong Kong became a Special Administrative Region of the People’s Republic of China (the “PRC”), ending more than 150 years of British colonial rule. In general, the laws of Hong Kong as at 30 June 1997 were adopted as the laws of the Hong Kong Special Administrative Region (the “HKSAR”) with effect from 1 July 1997, except for those laws which were in contravention of the constitution of the HKSAR (the “Basic Law”).