We have spent a lot of time thinking about landlords being affected by tenants going into administration over the last year. This posting is about a court case where the landlord’s administrators were trying to postpone the tenant’s application to Court for the grant of a new tenancy under the 1954 Act.
The administrators failed in their attempts to defer the 1954 Act proceedings even though it severely affected the value of the property in question and the amount that was going to be paid out to the secured creditor.
United Kingdom, Insolvency & Restructuring, Litigation, Real Estate, Reed Smith LLP, Unsecured debt, Landlord, Leasehold estate, Interest, Moratorium, Secured creditor, Prejudice