Sitting Master meaning

In this edition: Probate Trusts Powers of attorney and advance decisions Elderly and vulnerable clients UK taxes for Private Client HMRC Manuals updates Tax avoidance, evasion and non-compliance Budgets and Finance Bills Family businesses and ownership structures Pensions, insurance and tax-efficient investments Private Client in Scotland, Wales and Northern Ireland International Question of the week Additional Private Client updates this week Daily and weekly news alerts LexTalk®Private Client: a Lexis+® community New and updated content Dates for your diary Trackers Latest Q&As Useful information Probate Protection for personal representatives in potentially insolvent estates (Wedgwood (as administrator of the estate of Aleem Hosein deceased) v Hosein) This ruling by Master Marsh (sitting in retirement) relates to running a potentially insolvent estate and the administrator’s defence of a third-party claim which, if upheld, would make the estate incontrovertibly insolvent...

In this issue: Key DR developments Claims and remedies Costs and funding Cross-border disputes Dates for your diary Useful information Daily and weekly news alerts Key DR developments Civil Procedure Rule Committee’s minutes Notes from the Civil Procedure Rule Committee (CPRC) sitting on 2 February 2024—held entirely online via video conference—record a broad range of topics. Among these are the expansion of fixed recoverable costs (FRC), the Convention of 2 July 2019 on the Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters (the Hague Judgments Convention), and the manner in which Judges are currently referenced within the Civil Procedure Rules (CPR)—for further details, see the News Analysis: Minutes of the CPR Committee meeting—2 February 2024. Artificial Intelligence (AI) Master of the Rolls on AI reshaping lawyers’ and judges’ work: The Courts and Tribunals Judiciary (CTJ) has released a speech by the Master of the Rolls, Sir Geoffrey Vos, entitled ‘AI –...

Banking & Finance—December 2023 and January 2024 case round-up The Joint Administrators of Lehman Brothers Holdings plc (In Administration) v LB GP No 1 Ltd (In Liquidation) and others [2023] EWHC 3056 (Ch) Intercreditor—ranking of statutory interest on subordinated debt The High Court examined whether statutory interest owed to a subordinated creditor should be met before principal due to another subordinated creditor sitting lower in the payment waterfall. This required construing the contractual priority provisions and how they interact with IR 14.23, which regulates the payment of interest. The court held that statutory interest due to the higher-ranking subordinated creditor must be paid ahead of principal payable to the lower-ranking subordinated creditor. The judge noted that, when provable debts are in competition, priority turns on the parties’ contractual arrangements, in particular the subordination terms governing the junior claim. IR 14.23(7) does not override such arrangements and falls to be read subject to the contractual subordination. The wording “liabilities in respect of the Notes” was interpreted broadly...

Claim No. [ insert claim number ] In the High Court of Justice Business and Property Courts Of England and Wales or in [ insert location ] [ Specify division ] [ Specify specialist court ] [ Insert location ] District Registry The County Court at [ insert location ] Business and Property Courts List Before [ The Honourable Mr Justice OR The Honourable Mrs Justice OR His Honour Judge OR Her Honour Judge OR Master OR District Judge ] [ insert name ]; dated: [ insert date ]. Between: [ insert Claimant’s name ] (Claimant) and [ insert Defendant’s name ] (Defendant). [ Draft ] multi-track standard directions Warning: you must adhere to the obligations set out in this order; failure to do so may result in the claim being struck out or another sanction being imposed. If you are unable to comply, you should make a formal application to the court before...