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A wake-up call for landlords

By: Contributor(s): Language: English Series: Estates Gazette ; (0721) 26 May 2007, 122-124(3)Publication details: 2007Subject(s): Summary: 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.
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Journal article London Journal article L138357 (Browse shelf(Opens below)) 1 Available 138357-1001

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.

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