000			01283cam a2200229 4500
001			ABS65538
008			020606n2002 000 0 eng u
035			_a(Sirsi) u118291
100			_aLevaggi, P
245			_aComply with the rules
260			_c2002
490			_aEstates Gazette _v(0220) 18 May 2002, 221(1)
520			_aDiscusses the case of "Re Toshoku Finance plc (in liquidation)" where a landmark ruling by the House of Lords has implication on the way post-liquidation rental liability is treated. It was decided that corporation tax chargeable on Toshoku's post liquidation profits, including income not yet received, was a necessary disbursement payable out of the company's assets for the cost of winding-up and in priority to the debts proved pursuant to the Insolvency Act 1986 s 115. The Lords ruling meant that rents due following liquidation may be recoverable as an expense of the liquidation and that it is no longer a matter for the court's discretion, but compliance with r4.218.
590			_aABS
650			_aLIQUIDATION
650			_aRENTS
650			_aRE TOSHOKU FINANCE PLC (IN LIQUIDATION)
650			_aINSOLVENCY ACT 1986 S115
650			_aCOMMERCIAL LEASES
690			_aLANDLORD AND TENANT-BUSINESS TENANCIES-CASE LAW
942			_n0
999			_c70422 _d70422