Where a person lacks capacity (“P”), the Court of Protection has the power to appoint a person to make decisions on their behalf. This person is known as a deputy. A deputy is usually given a variety of powers by the Court of Protection in relation to the property and affairs, including the control, management, acquisition and disposition of property of the person who lacks capacity.
Payments made to family members for the services they provide to a person who lacks capacity are known as gratuitous care allowance.
Since the large increases in litigation court fees and change in rules regarding recoverability of success fees under conditional fee agreements people have been looking for new ways of funding litigation; particularly large scale litigation against institutional bodies or others that may have significantly deeper pockets than they do. One avenue that has started to be explored is the question of crowd funding.
Property development is intended to attract and draw people in. This applies whether you are a large international logistics company looking for a new distribution facility, a company looking for a new office or a high profile retailer wanting pride of place in the newest shopping destination. But to build it you’ve got to fund it.
Debentures, legal charges, directors’ personal guarantees and can be used to give funders very extensive rights of security, so why are collateral warranties also required as part of a comprehensive security package for development financing?
One of the best ways to ensure your cash flow is consistent is to be in control of your bad debt, but this can be a real challenge as most businesses suffer from late payment of invoices by customers.
Occupational leases, as the providers of income stream to the freeholder, are so often the nub of the value of a commercial property for the lender. The existence of a guarantor for a tenant’s lease obligations is often crucial to that income stream, and thus the value of the freehold, particularly where the tenant itself is not a strong covenant.
Invoice finance (invoice discounting or factoring) involves a financier advancing a certain amount of working capital funds against a company’s invoices. It is therefore essential for the financier to understand the make-up of the company’s trade debtors (and to some extent suppliers) and the terms on which the company contracts with them.
The history of social housing finance makes interesting reading and we have been involved in its story since the early 1980s when we helped set up what is now one of the largest housing groups in the country. Working on the precedents established by philanthropic associations such as the Peabody Trust and the William Sutton Housing Trust, housing associations established in the 1970s and 80s were funded by the Housing Corporation, which provided grant funding and took charges over the housing stock directly.
Here is a series of articles which examine what are the alternatives, what are the pros and cons of them and how can you best resolve the dispute early? Please get in touch if you want to discuss the options.