There are many enforcement options available to commercial landlords in England & Wales, to recover rent arrears due under a lease from a business tenant. Some of those options are based in contract and governed by the terms of the individual lease itself, such as a power to forfeit or damages for breach, whilst some of those options are based in statute such as the Commercial Rent Arrears Recovery regime.

Modular construction has been heralded for several years now as a construction methodology that saves time, reduces waste and minimises cost. It is therefore unsurprising that modular construction forms part of the various "modern methods of construction" that are now being encouraged by the UK Government. Use of modular construction can range from isolated elements like bathroom pods to where the majority of the building is comprised of modules and is commonly encountered in housing, student accommodation and hotels.

ISDA argued the need for clarity in rules that govern the ownership of customer digital assets in the event of an intermediary’s insolvency.

JPMorgan Chase Bank assumed all of First Republic Bank's deposits and nearly all assets, making all depositors of First Republic Bank depositors of JPMorgan Chase Bank as of Monday, May 1, 2023.

Given the current financial climate you may wonder what options are open to you or your organisation when you are owed money by a third party. There can often be an assumption that lengthy court processes are required to recover sums due. That is not the case and in this article we consider some of the options available to help recover debts in Scotland.

Pre-Court Action

Statutory Demand

There are often difficult issues encountered when the worlds of bankruptcy and probate collide. This case is a good example.

The case concerns section 283A of the Insolvency Act 1986 ("s283A") which provides that a bankruptcy trustee must deal with a bankrupt's interest in their home within three years, otherwise the property re-vests in the bankrupt on expiry of this period. It is commonly known at the "use it or lose it" provision.

The Moveable Transactions (Scotland) Bill introduces a raft of fundamental changes designed to modernise and improve the law of Scotland in relation to transactions concerning moveable property.

Once a tenant becomes insolvent a landlord's recovery options become more limited but there are important steps a landlord should be taking.

1. Check the terms of any rent deposit agreement

Check the terms of the arrangement to find out how the deposit is held and when it is available for to use. In some cases, such as when a tenant has entered into a creditors' voluntary agreement, consent from the court may be required before the deposit can be used.

2. Find out the tenant's status

A Manhattan federal jury ruled in favor of luxury brand Hermès in its trademark infringement lawsuit against an individual that created non-fungible tokens ("NFTs") depicting images resembling the famous Hermès Birkin handbag.

There are several costs associated with presenting a creditor's petition for sequestration (bankruptcy) in Scotland. As you would expect there are court dues for presenting the petition, currently at £122, as well as sheriff officer and legal fees.