Hypothec meaning

This Practice Note examines the role of fixed charge receivers from a Jersey standpoint. As there is no fixed charge receivership process in Jersey, it focuses on how Jersey law interacts with English fixed charge receiverships in the circumstances below: security granted by Jersey companies under English law over property located in England; and security constituted under Jersey law over property located in Jersey Security created by Jersey companies under English law over property situated in England In broad terms, the Jersey courts will recognise a charge validly granted by a Jersey company over collateral outside Jersey where a non-Jersey governing law has been properly chosen, which is usually the law of the place where the collateral is located. However, certain aspects of a non-Jersey law charge created by a Jersey company remain governed by Jersey law, applying private international law principles derived from English common law. These matters include the company’s existence, its capacity and corporate authority to enter into the...

Main remedies in Scottish landlord and tenant disputes The principal remedies available in the context of landlord and tenant disputes in Scotland are: Interdict Specific implement Payment action Damages action Rescission Retention of rent Irritancy Hypothec Action for recovery of heritable property Interdict Interdict is a court remedy used to restrain an actual or threatened breach of contract by a party; for example, a landlord may seek it to stop a tenant using the premises for a purpose other than that for which it is let. It is the counterpart of the English remedy of injunction. An interdict can be obtained in the Court of Session (by petition or summons, see: Introduction: Stair Memorial Encyclopaedia [88]) or in the sheriff court (by initial writ, see: Form of writ: Stair Memorial Encyclopaedia [382]). If brought in the sheriff court, proceedings must be raised where the defender is domiciled or where the alleged wrong is occurring....

What effect does insolvency have on the operation of a lease? This Practice Note explores how insolvency influences the day-to-day operation of a lease and addresses the principal concerns that commonly emerge when an insolvency practitioner (IP) becomes involved in the landlord and tenant relationship for commercial premises... Types of insolvency process The relevant insolvency procedure is determined by the tenant’s location (for a corporate entity, its registered office), rather than the situs of the leased property. For the purposes of this Practice Note, it is assumed that the landlord and tenant are both based in Scotland and that Scots law governs the lease. The main formal insolvency procedures in Scotland are summarised below... Corporate Administration Administration offers a framework designed to enable the rescue of an insolvent company. An administrator is appointed and, while the company remains in existence, it acts through that administrator. Appointment can be made by an administrative order or, on an out of court basis, by the holder of a...