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    Landlords and administrators: a shift in the balance of power?
    2010-01-20

    In a blow to administrators that will surely impact on the timings of any administration, most particularly those involving a large property portfolio, HHJ Purle, sitting in the High Court, has handed down a decision that will have ramifications potentially as serious as those of Re Trident Fashions for administrators in considering how long to remain in office, or indeed whether to accept an appointment at all.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Landlord, Leasehold estate, Threatened species, Liability (financial accounting), Liquidation, Liquidator (law), Prejudice, Lehman Brothers, High Court of Justice
    Authors:
    Daniel French
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs
    Licensing Act 2003 – implications for insolvency practitioners
    2008-07-25

    The Licensing Act 2003 came into force in November 2005. Its effects were considerably wider than the much-publicised ‘24 hour drinking’ relaxation and, in particular, it makes specific provisions in relation to insolvency.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Leisure & Tourism, Squire Patton Boggs, Breach of contract, Landlord, McDonald's
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs
    Tribunals Courts and Enforcement Act 2007
    2007-12-21

    This Act received Royal Assent in July 2007 but no date for implementation has been published yet.

    In addition to the provisions contained in this Act aimed at improving the working of the tribunals system and increasing judicial diversity, are several sections that will be of interest to financiers and insolvency professionals: 

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Real Estate, Squire Patton Boggs, Debtor, Breach of contract, Landlord, Leasehold estate, Interest, Debt, Mortgage loan, Writ, Common law, Capital punishment
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs
    Company voluntary arrangements: creditors with guarantees
    2007-07-18

    Re Powerhouse Limited: Prudential Assurance Company Limited v PRG Powerhouse Limited [2007] EWHC 1002 Ch Guarantees are widely used in commercial transactions to provide assurance to creditors that debts or other obligations owed to them are discharged fully in the event the principal debtor fails to perform. This assurance was shaken by the steps taken in early 2006 by PRG Powerhouse Limited (Powerhouse) to enter into a company voluntary arrangement (CVA) that contained proposals to release certain parent company guarantees given to landlords of premises being vacated by Powerhouse.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Real Estate, Squire Patton Boggs, Retail, Surety, Debtor, Unsecured debt, Landlord, Debt, Liquidation, Secured creditor, Prejudice, Insolvency Act 1986 (UK), High Court of Justice
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs
    Landlords (with guarantees) unfairly prejudiced by company voluntary arrangements: Re PRG Powerhouse Limited
    2007-05-04

    In a decision that will have important repercussions for creditors with the benefit of guarantees, the High Court this week has held that a company in financial difficulties may not propose a voluntary arrangement which is unfairly prejudicial on its terms to certain creditors.

    Re Powerhouse

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Unsecured debt, Landlord, Leasehold estate, Board of directors, Debt, Secured creditor, Prejudice, Insolvency Act 1986 (UK)
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs
    The minefield of surrenders and assignments
    2016-04-12

    The minefield of surrenders and assignments

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Real Estate, Squire Patton Boggs, Landlord, Leasehold estate
    Authors:
    Gemma Whale
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs
    A shift in the balance……?
    2015-10-06

    On 14 September 2015, judgment was handed down in the case of Re SSRL Realisations Limited (In Administration), in which a landlord was granted permission to forfeit a lease by peaceable re-entry. The case will be of interest to insolvency practitioners and landlords alike – but for very different reasons.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Real Estate, Squire Patton Boggs, Landlord
    Authors:
    Gemma Whale , Devinder Singh
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs
    UK Government publishes bill outlining temporary restrictions on use of statutory demands and winding up petitions
    2020-05-22

    The highly anticipated Corporate Insolvency and Governance Bill (the “Bill”) was introduced to the House of Commons yesterday on 20 May 2020. Its aims appear to be simple: safeguard companies and maximise their chances of survival thereby preserving jobs.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Squire Patton Boggs, Landlord, Coronavirus, UK House of Commons
    Authors:
    Devinder Singh
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs
    New UK Insolvency Laws offers support for businesses struggling with cash flow, but what else can lenders and others expect?
    2020-05-21

    The UK Government published the Corporate Governance and Insolvency Bill on 20 May 2020. The legislation will be fast tracked and include both temporary and permanent changes to the UK insolvency legislation.

    The temporary measures, aimed at supporting businesses struggling with cash flow and facing distress due to COVID-19, include prohibitions on presentation of winding up petitions and winding up orders, suspension of wrongful trading laws and the ability to apply for a moratorium.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Squire Patton Boggs, Corporate governance, Landlord, Coronavirus
    Authors:
    John Alderton , Rachael Markham
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs
    What do the insolvency statistics say about the impact on UK businesses post-lockdown?
    2020-05-20

    The Insolvency Service has released statistics on the level of insolvencies in April 2020. This allows us to take a look at the immediate effect of insolvencies post-lockdown compared with those before.

    Statistics

    Filed under:
    United Kingdom, Insolvency & Restructuring, Tax, Squire Patton Boggs, Landlord, Coronavirus, HM Revenue and Customs (UK)
    Authors:
    Mark Prior
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs

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