The Compendium

A Comprehensive Companion for All in the Insolvency and Restructuring Profession

deals only with appeals from other courts or tribunals. It is divided into two Divisions; criminal and civil.

The Court of Appeal is based at the Royal Courts of Justice in London. Cases are heard by Lord or Lady Justices of Appeal or, in some cases, High Court judges.

[See ‘Supreme Court’ and ‘House of Lords’.]

Court Order

A court order records an official judgment or way forward, as agreed by a Judge.

A court order can be final (at the end of a hearing) or interim (which is in place until a final order can be made). What is in the order depends on the case presented to the judge and what evidence is necessary for just determination of the particular case.

An example is an Administration Order, which can be ‘interim’ and ‘final’.

[See ‘Administration’.]

Covenant

A covenant is an agreement or promise to do or provide something, or to refrain from doing or providing something, which is binding on the party giving the covenant (who may be referred to as the ‘covenantor’) and the other party (the ‘covenantee’).

In a finance law context, this is also known as an undertaking.

In a property law context, in some circumstances, the agreement or promise may have to be given in a particular form for it to be binding. Some types of covenant may also be enforceable by, or against, persons who were not a party to the original arrangement.

In an insolvency and restructuring context, a covenant will usually be part of a debenture which evidences the creation of a charge or mortgage on property. The covenants are contained in the clauses of the document.