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    Administrators' liability to pay rent
    2010-01-13

    The case of Goldacre v Nortel, decided in December, has clarified the circumstances in which an administrator is liable to pay rent under a lease as an expense of an administration. If rent is an expense of the administration, the landlord will almost certainly be paid in full for as long as the administrator uses the property. If it is not such an expense, the landlord will be an unsecured creditor who will be lucky to receive a few pence in the pound.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Real Estate, RPC, Landlord, Leasehold estate, Liquidation, Asset forfeiture, Unsecured creditor, House of Lords, Court of Appeal of Singapore
    Authors:
    Vivien Tyrell
    Location:
    United Kingdom
    Firm:
    RPC
    Landlords, will an administrator pay your rent in full?
    2009-10-01

    In the current recession landlords are among the fi rst to lose out when a company goes into insolvency, be it a pre-pack sale or a conventional administration process. It is important, therefore, for landlords to know what rights they retain when confronted with the administration of their tenant in order to ensure the full rent is paid - if they are still entitled to it - or, at the very least, to increase their bargaining position. In this article, we look at the circumstances where an administrator is obliged to pay the landlord’s rent in full.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Real Estate, RPC, Unsecured debt, Landlord, Leasehold estate, Liquidation, Unsecured creditor, Title retention clause
    Authors:
    Vivien Tyrell
    Location:
    United Kingdom
    Firm:
    RPC
    Renting in the recession – rent deposits and insolvency
    2009-07-28

    In the current climate, both landlords and tenants could be forgiven for wondering what would happen if the other became a victim of the recession. For both parties, a rent deposit deed can provide some comfort. Such a deed would mean the landlord has immediate access to cold hard cash if the tenant fails to pay the rent, while a struggling tenant may get valuable breathing space before the landlord turns to other remedies.  

    Filed under:
    United Kingdom, Insolvency & Restructuring, Real Estate, RPC, Costs in English law, Collateral (finance), Landlord, Leasehold estate, Deed, Liquidation, Moratorium (law), Stakeholder (corporate), Liquidator (law), Unsecured creditor
    Location:
    United Kingdom
    Firm:
    RPC
    Adjudication and liquidation - the TCC gets it wrong…but right
    2019-01-31

    Back in August, we wrote a blog about adjudication and liquidation, following the judgment in the TCC case of Michael J. Lonsdale (Electrical) Limited v Bresco Electrical Services Limited (in Liquidation) [2018] EWHC 2043 (TCC) (Lonsdale).

    Filed under:
    United Kingdom, Arbitration & ADR, Insolvency & Restructuring, Litigation, RPC, Liquidation, Construction contracts
    Location:
    United Kingdom
    Firm:
    RPC
    Adjudication and liquidation - the final word?
    2018-08-03

    It is generally the case (though not always!) that courts are reluctant to enforce monetary award adjudication decisions in favour of companies in liquidation (CILs). This is because of the uncertainty surrounding the CIL’s ability to repay those sums should it later transpire it was not entitled to the award.

    Filed under:
    United Kingdom, Arbitration & ADR, Insolvency & Restructuring, Litigation, RPC, Liquidation
    Authors:
    Sarah Shafiq
    Location:
    United Kingdom
    Firm:
    RPC
    Taxpayer's application to have HMRC's winding-up petition dismissed fails due to lack of evidence
    2015-08-19

    In Winnington Networks Communications Ltd v HMRC[1], the Chancery Division Companies Court (Nicholas Le Poidevin QC) refused the taxpayer company's application to have HMRC's winding-up petitions dismissed, as it had failed to provide evidence that it had a real prospect of successfully disputing the debt claimed by HMRC.

    Background

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, RPC, Liquidation, HM Revenue and Customs (UK)
    Authors:
    Adam Craggs
    Location:
    United Kingdom
    Firm:
    RPC
    Nowhere to hide: Supreme Court considers illegality defence and global application of Insolvency Act 1986 in VAT fraud case
    2015-07-06

    On 22 April 2015 the Supreme Court handed down its judgment in the case of Jetivia SA and another v Bilta (UK) Ltd (in liquidation) and others [2015] UKSC 23, which was heard in October last year.  In short it decided that: 1) defendant directors cannot raise illegality as a defence to a claim by a company where the directors themselves acted wrongfully; and 2) a claim in fraudulent trading under Section 213 of the Insolvency Act 1986 (Section 213)has extra-territorial effect.

    Background

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Tax, White Collar Crime, RPC, Fraud, Value added tax, Liquidation, Insolvency Act 1986 (UK), HM Revenue and Customs (UK)
    Authors:
    Amy Gallimore
    Location:
    United Kingdom
    Firm:
    RPC
    Legislative changes in effect today: what IPs need to know
    2015-05-26

    Removal of requirement for sanction

    Previously under section 165 IA 86, liquidators in a voluntary winding up would have to seek sanction of the company (in members’ voluntary liquidation) or of the court or liquidation committee (in creditors’ voluntary liquidation) in order to exercise their powers to pay debts, compromise claims etc. SBEEA removes this requirement so that liquidators can exercise those powers freely. This will aid expeditious winding up of companies. Equivalent provisions have also been put into place for trustees in bankruptcy.

    Filed under:
    United Kingdom, Insolvency & Restructuring, RPC, Liquidation, Companies Act 2006 (UK)
    Authors:
    Amy Gallimore
    Location:
    United Kingdom
    Firm:
    RPC
    High Court holds that HMRC’s winding up petition should be dismissed as an abuse of process
    2014-04-03

    The High Court (David Donaldson QC) has held in Enta Technologies Limited v HMRC [2014] EWHC 548 (Ch), that where a winding-up petition was brought by HMRC based on the non-payment of tax raised in assessments and the taxpayer's appeal against those assessments was pending, the winding-up court should refuse to adjudicate on the merits of the appeal and should leave that question to be dealt with by the First-tier Tribunal (Tax Chamber) ('FTT').

    Background

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, RPC, Value added tax, Abuse of process, Liquidation, HM Revenue and Customs (UK), High Court of Justice
    Authors:
    Nicholas Fernyhough
    Location:
    United Kingdom
    Firm:
    RPC
    Personal liability for directors – no escape from the taxman
    2011-10-07

    Company Insolvencies

    One of the criticisms that is often made of the UK’s complex insolvency legislation is that it is too easy for the directors of a company to put it into liquidation or administration, ‘dump’ the company’s debts and then effectively start the same business again under the guise of a new company. Such phoenixism has often been of concern to HMRC both in the civil and criminal fields and prosecutions have been made against directors who have undertaken such activities on a repeated basis.

    Personal Liability Notices (‘PLNs’)

    Filed under:
    United Kingdom, Company & Commercial, Insolvency & Restructuring, Tax, RPC, Regulatory compliance, Fraud, Board of directors, National Insurance, Debt, Liability (financial accounting), Economy, Liquidation, HM Revenue and Customs (UK), Social Security Administration
    Location:
    United Kingdom
    Firm:
    RPC

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