A way to obtain some certainty
Language: English Series: Estates Gazette ; (0732) 11 August 2007, 82-84(3)Publication details: 2007Subject(s): Summary: Describes the effect of the stripping of unwanted leases from insolvent companies upon any subtenants, mortgagees or guarantors of that company. The Insolvency Act 1986 allows liquidators to free companies from a lease to reduce outgoings. A subtenant is not automatically entitled to end its sublease simply because of the tenant's disclaimed lease. It is usually in the subtenant's interest to apply for a vesting order so that they will be excluded from all interest in the property.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L139858 (Browse shelf(Opens below)) | 1 | Available | 139858-2001 |
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Describes the effect of the stripping of unwanted leases from insolvent companies upon any subtenants, mortgagees or guarantors of that company. The Insolvency Act 1986 allows liquidators to free companies from a lease to reduce outgoings. A subtenant is not automatically entitled to end its sublease simply because of the tenant's disclaimed lease. It is usually in the subtenant's interest to apply for a vesting order so that they will be excluded from all interest in the property.