The High Court has ruled in the recent case of Capitol Park Leeds PLC v Global Radio Services Limited  that a tenant’s attempt to exercise the break in a lease, which was conditional on the tenant giving “vacant possession of the Premises” to the landlord, was not effective after the tenant had removed a Read More
It has long been a bone of contention for landlords that tenants can simply file a notice of intention to appoint administrators in order to get an automatic moratorium against any enforcement action. This prevents a landlord from forfeiting, suing or exercising CRAR irrespective of whether the tenant goes into administration and, seemingly, whether it Read More
The High Court of England and Wales handed down judgment last week in the case of Christine Mary Laverty and others as Joint Liquidators of PGL Realisations PLC and others v British Gas Trading Limited  EWHC 2721. In an important decision for the insolvency industry, it was held that the statutory deemed contracts regime Read More
The UK Court of Appeal has swept aside existing rules governing when administrators have to pay advance rents falling due before their appointment.
In what will be seen as a significant victory for landlords, the Court held on 24 February 2014 that it was not open for administrators to enjoy a rent free period simply Read More
Landlords often ask for a rent deposit when they grant a new lease, or consent to an assignment, especially if the incoming tenant is of shaky covenant strength. This provides security against possible future default.
If a tenant becomes insolvent then this is exactly the sort of situation where a landlord would want to make Read More
For the uninitiated, a pre-packaged sale (or prepack) is one that is negotiated in advance of administration and completed by the administrators when they are appointed. It would be wrong to suggest prepack administrations are universally a bad thing. They can be the quickest means of salvaging a distressed business, while avoiding an often protracted Read More
E.ON UK Plc v Gilesports Ltd  EWHC 2172 (Ch)
E.ON was Gilesports’ landlord of a retail shop. Gilesport sought to assign the lease and requested E.ON’s consent by email. The email did not state that there was an urgency in respect of the transaction. Gilesports provided financial information in respect of the assignee on Read More