A wake-up call for landlords
Bradford, Katie
A wake-up call for landlords - 2007 - Estates Gazette (0721) 26 May 2007, 122-124(3) .
Reports on Prudential V Powerhouse, which considered whether tenants may reduce their landlords guarantees using a CVA. These are procedures enabling companies to reach agreements with creditors. The established principle is that companies may use CVA to alter aspects of the landlord-tenant relationship. These include rent reductions, term adjustments and compulsory surrenders. Because of this case, landlords may now need to be involved in CVA meetings. Without fighting the effects of a CVA, landlords may now lose any guarantees removed by it.
PRUDENTIAL ASSURANCE CO LTD AND OTHERS V PRG POWERHOUSE LTD AND OTHERS
BURFORD MIDLAND PROPERTIES LTD V MARLEY EXTRUSIONS LTD
SEA ASSETS LTD V PERUSAHAAN PERSEROAN (PERSERO) PT PERUSAHAAN PENERBANGAN GARUDA INDONESIA
INSOLVENCY ACT 1986
England and Wales--1543-
A wake-up call for landlords - 2007 - Estates Gazette (0721) 26 May 2007, 122-124(3) .
Reports on Prudential V Powerhouse, which considered whether tenants may reduce their landlords guarantees using a CVA. These are procedures enabling companies to reach agreements with creditors. The established principle is that companies may use CVA to alter aspects of the landlord-tenant relationship. These include rent reductions, term adjustments and compulsory surrenders. Because of this case, landlords may now need to be involved in CVA meetings. Without fighting the effects of a CVA, landlords may now lose any guarantees removed by it.
PRUDENTIAL ASSURANCE CO LTD AND OTHERS V PRG POWERHOUSE LTD AND OTHERS
BURFORD MIDLAND PROPERTIES LTD V MARLEY EXTRUSIONS LTD
SEA ASSETS LTD V PERUSAHAAN PERSEROAN (PERSERO) PT PERUSAHAAN PENERBANGAN GARUDA INDONESIA
INSOLVENCY ACT 1986
England and Wales--1543-