Introduction
What happens when monies are loaned for a specific purpose but that purpose fails? Should those monies fall within the general assets of the recipient upon bankruptcy or insolvency?
Hong Kong, Insolvency & Restructuring, Litigation, Charles Russell Speechlys, Barclays, HM Treasury (UK)
I HAVE REQUESTED MY LANDLORD’S CONSENT TO SELL MY PHARMACY LEASE. THE LANDLORD HAS AGREED TO THE SALE BUT ON THE CONDITION THAT I AM A GUARANTOR FOR THE BUYER. IS THIS A REQUIREMENT UNDER MY LEASE?
The answer will depend on the terms of your lease. However, as a general rule, it is likely to be the case that the landlord can request such a guarantee.