Die Möglichkeiten durch das Gesetz zur Abmilderung der Folgen der COVID-19-Pandemie im Zivil-, Insolvenz- und Strafverfahrensrecht für Startups.

In this article we investigate whether, in South African law, a subordination agreement could constitute a "voidable disposition" as defined in section 26 of the Insolvency Act 24 of 1936 (the Act). 
 
Section 26 of the Act provides that every disposition of property not made for value may be set aside by the court, if the disposition was made by an insolvent (whether an individual, company or close corporation) either: 
 

The High Court has dismissed an application by a landlord creditor to overturn a company voluntary arrangement (CVA) implemented by coffee shop chain Caffé Nero. The CVA, previously approved by its creditors, compromised rent arrears and reduced future rents for the company's premises. The decision follows a series of previous high-profile challenges to retail and leisure CVAs.

Eigentümerrisiko im Insolvenzfall?

Aufgrund der angespannten Situation in der Hotelbranche treten aktuell diverse Mieter an ihre Vermieter heran und bitten um Stundung oder Erlass der Mietzahlungen für die kommende Zeit. Die Vorschläge für mögliche Kompromisse sind vielfältig – dabei ist aber immer auch die insolvenzrechtliche Situation zu beachten, um hier keine Risiken für Mieter oder Vermieter zu schaffen. Die Ausführungen dieses Beitrags gelten gleichermaßen auch für Hotelpachtverträge.

Aktuell diskutierte Kompromisse

The UK Court of Appeal has swept aside existing rules governing when administrators have to pay advance rents falling due before their appointment.

In what will be seen as a significant victory for landlords, the Court held on 24 February 2014 that it was not open for administrators to enjoy a rent free period simply because they were appointed just after a quarter day.  The decision will have major implications for the planning and implementation of corporate insolvencies and looks set to transform the relationship between insolvency practitioners and the property industry.

National Car Parks' proposed restructuring plan aimed to write-off arrears, cut rents and close unwanted sites but why did the plan stall?

On 30 April 2021, National Car Parks launched its proposed restructuring plan, which is the flagship new restructuring process introduced last June through the Corporate Insolvency and Governance Act 2020. Around a dozen restructuring plans have come to market so far, but the NCP plan was only the second (the first being Virgin Active) to involve landlord creditors.

Foreword Head of Real Estate Disputes Mathew Ditchburn considers what 2020 may have "in store". Five minutes with: Hebe Morgan We chat to real estate associate Hebe Morgan who is currently on secondment at M&G Real Estate.

CVA Special: Mathew Ditchburn reports

The recent Court of Appeal case involving Topland Limited and Smiths News Trading Limited was a salutary lesson about the strict rules that protect guarantors and the perils of forgetting them.  The facts of the case were relatively simple:  Topland owned a commercial property, leased to the rather aptly named Payless DIY Ltd, which became insolvent.  Topland brought a claim against the tenant’s guarantor, Smiths, for arrears of over £280,000 and required them to take a new lease for the remainder of the term.

The restrictions on filing statutory demands and winding up petitions has been extended (again) until the end of September 2021. At the same time, the moratorium on landlords evicting commercial tenants has been extended to March 2022. Both are longer than expected. Perhaps more interestingly, the announcement includes reference to the imposition of an arbitration mechanic for arrears – a step from the Government that will provide another route to impose a compromise on arrears.

Collapsed retailer British Home Stores cannot challenge its own company voluntary arrangement as an unenforceable contractual penalty and must repay rental discounts to its landlords, the High Court in England and Wales decided yesterday.

The case, in which Hogan Lovells represented the successful landlord, provides important guidance on the operation of company voluntary arrangements (CVAs), particularly after termination, and the payment of rent as an expense of a company’s administration in priority to other debts.

CVAs