A recent decision from the High Court has shed some light on the remedies available to landlords under insolvency legislation against tenants who enter into administration. The decision provides useful guidance on the ability of a landlord to exercise its right of forfeiture.
United Kingdom, Insolvency & Restructuring, Litigation, Real Estate, Shepherd and Wedderburn LLP, Retail, Landlord, Leasehold estate, Covenant (law), Consideration, Consent, Asset forfeiture, Law Commission (England and Wales), Insolvency Act 1986 (UK)
In a recent decision issued by Lord Drummond Young, one of the Scottish insolvency judges in the Court of Session, useful guidance has been issued which will be of interest to practitioners having to deal with the, not uncommon, situation of a retiring practitioner and replacement with a current partner in the same firm.
United Kingdom, Insolvency & Restructuring, Litigation, Shepherd and Wedderburn LLP, Dividends, Advertising, Interest, Retirement, Adoption, Liquidation, Common law, Liquidator (law), Prejudice, Court of Session