Where a tenant becomes insolvent, landlords are often faced with a courtappointed Receiver inserted in place of the insolvent debtor who wishes to operate the tenant’s business or conduct a sale of assets on site. While the landlord may be able to successfully negotiate payment of occupation rent, a common issue that arises iswho is responsible for any damages to the leased premises? A recent decision of the Ontario Court of Appeal in General Motors Corporation v.
Canada, Ontario, Insolvency & Restructuring, Litigation, Real Estate, Miller Thomson LLP, Debtor, Landlord, Leasehold estate, Personal property, Liquidation, Court of Appeal for Ontario
CMIC Mortgage Investment Corp v Rodriguez, 2010 BCSC 308; [2010] BCJ No 425
The bankrupt farmer ran an equestrian operation. She acquired two fabric covered barns, with one anchored by solid concrete blocks resting on the ground, and the second anchored into concrete foundations.
Canada, British Columbia, Insolvency & Restructuring, Litigation, Real Estate, Miller Thomson LLP, Bankruptcy, Personal property, Royal Bank of Canada