Our articles are written by experts in their field and include individual barristers, solicitors, academics, judges, and leading firms in relevant areas of practice. JIBFL offers authoritative insights into global banking and financial law, providing essential updates for legal practitioners and policymakers. Covering key topics like lending, security interests, derivatives, debt capital markets, banking and finance related disputes, crypto, FinTech and financial regulation, JIBFL serves as a trusted resource for navigating complex legal challenges and staying informed in the financial sector. If you would like to contribute, please email Amanda.Cohen2@lexisnexis.com.
Legal Ease with Lexis+®UK – May 2023
© Copyright LexisNexis 2024. All rights reserved.
Building Safety Act 2022: impact on real estate and development structures and finance
Special purpose vehicles (SPVs) are used specifically to ring-fence liabilities. In the construction industry it is common for SPVs set up to complete a particular development to be wound up after completion of the development. Where an SPV (whether it is a developer contractor or landlord) is insolvent or has been dissolved claimants in relation to building defects or safety issues can be left with no recourse.
In part to address this gap the Building Safety Act 2022 (BSA 2022) introduced fundamental reforms to the law of building safety. Certain provisions of BSA 2022 effectively “pierce the corporate veil” to allow claimants additional recourse to associates of the originally liable party.
The relevant provisions of the BSA 2022 will be of interest to funders since: (i) a question arises in the context of...
If you are already a User, sign in
Or you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Alternatively you can subscribe here to read unlimited content.
