Re Park Air Services plc; Christopher Moran Holdings Ltd v Bairstow and Ruddock
Re Park Air Services plc; Christopher Moran Holdings Ltd v Bairstow and Ruddock
- 1996
- Property and Compensation Reports [1996] 72 P&CR 2, 174-195(22) .
ChD 21 December 1995. Landlord B granted lease of business premises to company P for 25 years from September 1989, with arrangement for upward only rent reviews every five years. By 1994 payable rent was four to five times greater than current rental value. In December 1994 P entered into members` voluntary winding up. Liquidators C gave notice of disclaimer of the lease. In January 1995 P submitted proof of debt for loss or damage under Insolvency Act 1986 s178(6) in excess of £5.3m, later £2.8m. C put the figure at £200,000, rejecting P`s proof of debt. "Held" basis for loss or damage to be calculated as the subtraction of the `residual amount` from the `no disclaimer amount` plus an amount added for dilapidations.
DISCLAIMERS
INSOLVENCY ACT 1986 S178 6
Insolvency
LEASES
LIQUIDATOR
MARKET RENT
OVER-RENTED PROPERTY
RE PARK AIR SERVICES PLC; CHRISTOPHER MORAN HOLDINGS LTD V BAIRSTOW AN
VOLUNTARY LIQUIDATION
ChD 21 December 1995. Landlord B granted lease of business premises to company P for 25 years from September 1989, with arrangement for upward only rent reviews every five years. By 1994 payable rent was four to five times greater than current rental value. In December 1994 P entered into members` voluntary winding up. Liquidators C gave notice of disclaimer of the lease. In January 1995 P submitted proof of debt for loss or damage under Insolvency Act 1986 s178(6) in excess of £5.3m, later £2.8m. C put the figure at £200,000, rejecting P`s proof of debt. "Held" basis for loss or damage to be calculated as the subtraction of the `residual amount` from the `no disclaimer amount` plus an amount added for dilapidations.
DISCLAIMERS
INSOLVENCY ACT 1986 S178 6
Insolvency
LEASES
LIQUIDATOR
MARKET RENT
OVER-RENTED PROPERTY
RE PARK AIR SERVICES PLC; CHRISTOPHER MORAN HOLDINGS LTD V BAIRSTOW AN
VOLUNTARY LIQUIDATION