Landlord and Tenant: guarantee in insolvency and CVA

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On Friday 23 July 2010 a judgment was handed down in the case of Mourant & Co Trustees Ltd v Sixty UK Ltd. The case reaffirms the protection the Courts will give to landlords of insolvent tenants in the context of Company Voluntary Arrangements (CVA) which seek to unfairly prejudice their interests by depriving them of their rights under guarantees given by third parties and parent companies.

The case restates the law relating to CVAs and also contains interesting comments on insolvency practitioners' duties.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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