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Welcome to the November 2010 issue of E:gen, Winckworth Sherwood's legal update covering legal tips, topics and issues in regeneration and development.
If there are any particular issues that you feel should be covered, please do contact a member of our development and regeneration teams and we will try to include these in future editions.
As ever, if you would like to discuss any points from the articles in this month's edition, please feel free to contact a member of our team. |
Dawn of a brave new world |
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For all its cuts, the comprehensive spending review opens a new world of opportunity. But for every opportunity there are headaches which will involve careful and creative thought.
The big changes are in the areas of rent and regulation. The CSR has to be read alongside the simultaneous release of a paper on regulation, and the implications followed through.
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Funders and investors use funds for many reasons and to invest in many different types of asset classes. At its most basic level a fund pools equity from a number of non-bank sources which is then professionally managed to (hopefully) provide a return to those investors.
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Pinnock - Resurgence of human rights - The Effect on development and regeneration plans |
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On 3 November the Supreme Court considered the issue of human rights in connection with an order for possession of residential property and held that possession orders might breach Article 8 (the right to a private and family life) if they were disproportionate to the circumstances in which possession was claimed. The interest in this case for housing lawyers is obvious but could there be an impact on local authorities, house builders, developers or perhaps even developing registered providers?
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Housing delivery after the comprehensive spending review |
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The problems facing those responsible for improving and increasing the stock of affordable housing have never been more acute. The statistics speak for themselves. In 2009-10 according to the Department for Communities and Local Government (CLG) the number of new homes (of which affordable home is only a small fraction) fell by a nearly a quarter to 128,680, the biggest decrease since it began collecting data ten years ago.
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Overseas companies and charges - What's in a name? |
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Lenders and other organisations seeking to secure their interests against overseas companies need to be extremely vigilant when searching at Companies House to confirm whether or not an overseas company is in fact registered at Companies House and therefore whether or not a registrable charge or mortgage needs registering. A simple search against the name of the overseas company may initially indicate that the company is not registered in the UK raising the assumption that a mortgage or charge does not need to be registered. This assumption could very easily be incorrect and result in the security becoming void against a liquidator, administrator or any creditor of the company.
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