In re Lomax Leisure Ltd.
In re Lomax Leisure Ltd.
- c1999
- Estates Gazette Law Reports (1999) 23 EG 143-151(9) .
ChD 22 April 1999. Lomax Leisure Ltd were granted a lease of a building which they were intending to convert to a nightclub. However, the cost of the works rose and the company faced a cash crisis. The petitioner, Lomax Car Parks Ltd petitioned for an administration order, and the landlord, RAT Holdings Ltd, purported to forfeit the lease by peaceable re-entry on the grounds of rents arrears and breaches of covenant. It was suggested on behalf of the petitioner that forfeiture of the lease was precluded by section 10(I)(b) of the Insolvency Act 1986. "Held" the petition was granted and a landlord could re-enter peaceably on premises demised to a tenant who was the subject of an administration order or a petition. Thus the landlord had forfeited the lease by re-entry. The administration order would be made, however the application for relief from forfeiture was postponed.
FORFEITURE
PEACEABLE RE-ENTRY
SECURED CREDITOR
ADMINISTRATION
ChD 22 April 1999. Lomax Leisure Ltd were granted a lease of a building which they were intending to convert to a nightclub. However, the cost of the works rose and the company faced a cash crisis. The petitioner, Lomax Car Parks Ltd petitioned for an administration order, and the landlord, RAT Holdings Ltd, purported to forfeit the lease by peaceable re-entry on the grounds of rents arrears and breaches of covenant. It was suggested on behalf of the petitioner that forfeiture of the lease was precluded by section 10(I)(b) of the Insolvency Act 1986. "Held" the petition was granted and a landlord could re-enter peaceably on premises demised to a tenant who was the subject of an administration order or a petition. Thus the landlord had forfeited the lease by re-entry. The administration order would be made, however the application for relief from forfeiture was postponed.
FORFEITURE
PEACEABLE RE-ENTRY
SECURED CREDITOR
ADMINISTRATION