000			01302cab a22002295a 4500
001			L138407
008			070605s2007 xxk f g 000 0 eng d
035			_a(Sirsi) u138407
041	0		_aeng
100	1		_aBerryman, Kirsty
245	0	0	_aPowerhouse case clarifies CVA issues and offers some relief for landlords
260			_c2007
490		0	_aProperty Forecast _v10(5) May 2007, 14-15(2)
520			_aDiscusses "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.
590			_aKA
650	2	4	_aCOMPANY VOLUNTARY ARRANGEMENTS
650	2	4	_aINSOLVENCY ACT 1986 S6
650	2	4	_aPRUDENTIAL ASSURANCE CO LTD AND OTHERS V PRG POWERHOUSE LTD AND OTHERS
651		4	_aUnited Kingdom _y
690			_aPROPERTY-COMMERCIAL PROPERTY-LEASEHOLD COMMERCIAL PROPERTY-COMMERCIAL LANDLORD AND TENANT
942			_n0
999			_c78857 _d78857