Powerhouse case clarifies CVA issues and offers some relief for landlords
Language: English Series: Property Forecast ; 10(5) May 2007, 14-15(2)Publication details: 2007Subject(s): Summary: Discusses "Prudential Assurance Co Ltd and others v PRG Powerhouse Ltd and others" ([2007] EWHC 1002 (Ch), L138112) which concerned the validity of a Company Voluntary Arrangement (CVA). Outlines the background to the case, how a CVA can be challenged in accordance with the Insolvency Act 1986 s6(1), key points from the decision, and the impact of ?Powerhouse? on landlords. Whilst the decision in ?Powerhouse? marks an important win for landlords and property investors, landlords should now consider how to protect their guarantees going forward.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L138407 (Browse shelf(Opens below)) | 1 | Available | 138407-1001 |
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Discusses "Prudential Assurance Co Ltd and others v PRG Powerhouse Ltd and others" ([2007] EWHC 1002 (Ch), L138112) which concerned the validity of a Company Voluntary Arrangement (CVA). Outlines the background to the case, how a CVA can be challenged in accordance with the Insolvency Act 1986 s6(1), key points from the decision, and the impact of ?Powerhouse? on landlords. Whilst the decision in ?Powerhouse? marks an important win for landlords and property investors, landlords should now consider how to protect their guarantees going forward.