News & Analysis as of

Landlords Insolvency

Coblentz Patch Duffy & Bass

Impact of Recent Bank Failures on Borrowers, Landlords, and Other Stakeholders

By now, most will have heard the news that all deposits at Silicon Valley Bank have been made available to depositors. The Federal Deposit Insurance Corporation (FDIC), in a series of joint statements issued with the U.S....more

Katten Muchin Rosenman LLP

Commercial Landlords v. Tenants: Let Battle Recommence

Key Points - - An arbitration scheme for commercial landlords and tenants was introduced during March 2022 under the Commercial Rent (Coronavirus) Act 2022 with the aim of resolving disputes over outstanding rent arrears...more

Hogan Lovells

UK Insolvency: Sticking to the plan

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Before the pandemic, a popular way for businesses to cut their operational costs was through a company voluntary arrangement. In the space of a few years, a long line of retailers and other occupiers used CVAs to reduce rents...more

Hogan Lovells

Review of company voluntary arrangements (“CVAs”)

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On 28 June 2022 the Insolvency Service published a report it had commissioned from RSM UK to assess the impact that CVAs were having on commercial landlords (the “Report”). The Report was commissioned in response to a number...more

Hogan Lovells

UK company voluntary arrangements: 10 key takeaways for property owners from government research

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The company voluntary arrangement (CVA) is an insolvency process that has raised significant concern amongst commercial property owners in recent years about their use by tenant companies to change lease terms, write off...more

BCLP

Briefcase: Quarterly Real Estate Update - Cases and News - September 2021

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Briefcase: Quarterly Real Estate Update - Cases and News including: ..The Royal Parks Limited and the Secretary of State for Digital, Culture, Media and Sport v Bluebird Boats Limited ..Monsolar IQ Ltd v Woden Park...more

A&O Shearman

The Corporate Insolvency and Governance Act 2020

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The Corporate Insolvency and Governance Act (the Act) entered into force on 26 June 2020. The Act represents the most significant reforms to the insolvency framework in the United Kingdom since, at least, the widespread...more

Hogan Lovells

Winding up restrictions not quite wound up

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The UK Government yesterday announced that it will proceed with the phasing out of temporary measures introduced to protect businesses from creditor action during the COVID-19 pandemic, whilst also announcing new measures to...more

BCLP

Briefcase Quarterly Update: Key Real Estate Cases - July 2021

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Briefcase: Quarterly update on key real estate cases including: Pandemic Clause Included in Business Lease Renewal - ..A shopping centre lease renewal decision contains useful guidance on how the court will assess...more

Hogan Lovells

Landlords win victory in latest CVA challenge case

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In the latest High Court decision relating to Company Voluntary Arrangements in the UK, the judge held that the Regis hairdressing group CVA should be revoked on the basis that it favoured shareholders at the expense of...more

Cadwalader, Wickersham & Taft LLP

Summer's Coming, May 2021 | Issue No. 24A - Further Blow to the Landlords? The Virgin Active Case and the New Restructuring Plan...

It’s not news that the COVID-19 pandemic has exacerbated losses in sectors that are reliant on footfall − namely, the retail and leisure industry. Prior to the pandemic, the general weakness in the “bricks and mortar” retail...more

Locke Lord LLP

Regis - Landlords Lose the Fight to Force CVA Nominees to Return Their Fees

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In a judgment handed down earlier today in Regis UK Limited, Mr Justice Zacaroli ruled against landlords seeking repayment of fees against the nominees of a CVA for hair salon and beauty business operator, Regis UK....more

Hogan Lovells

Hotel contracts - Deferred or suspended rent due to Corona

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Does the owner bear the risk in case of bankruptcy? Due to the tense situation in the hotel industry, various lessees are currently approaching their lessors asking for deferral or abatement of rent payments for the...more

Jones Day

New Insolvency Processes for Small Australian Businesses

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During the better part of 2020, the federal government has injected an unprecedented level of stimulus into the Australian economy in an attempt to mitigate the economic impact of COVID-19. As a result, despite a significant...more

Hogan Lovells

The Sun Also Rises on Pre-pack Administration Reform

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In 2015, responding to mounting concerns about pre-pack administration sales, a set of voluntary industry measures were introduced to address the perceived lack of transparency and trust in the process – especially when the...more

BCLP

Corporate Insolvency and Governance Act 2020 - what does it mean for landlords?

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The Corporate Insolvency and Governance Act 2020 was passed on 25 June 2020. The legislation has been in contemplation for a number of years, and has implemented a significant reform to the UK's restructuring and insolvency...more

Goodwin

COVID-19: Measures to Support the French Economy

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The various thematic memos included below summarize the exceptional package enacted by the French State since the beginning of the lockdown (confinement) and aimed at supporting companies particularly affected by the economic...more

Hogan Lovells

UK COVID-19: The Corporate Insolvency and Governance Bill - New tenant/debtor protections unveiled

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Long awaited insolvency reforms in the UK, plus the government’s COVID-19 proposals on the use of statutory demands – and much more....more

White & Case LLP

Czech Responses to COVID-19

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The goal of the Prague COVID-19 Task Force is to regularly update our clients on actual and prospective developments in their markets consequent on the pandemic, primarily from a Czech perspective but also across the region. ...more

K&L Gates LLP

COVID-19: (Australia) How Poor PPSA Hygiene can Risk Landlord Exposure in Corporate Tenant Insolvencies

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The 'Emperor Landlord's new clothes': How poor PPSA registration hygiene can risk even further landlord exposure in corporate tenant insolvencies - *This information is accurate as of 10.00 Monday 30 March 2020 and is...more

Goodwin

COVID-19: German Government Issues Draft Bill Suspending Tenants' Obligation to Pay Rent and Borrowers' Obligation to Repay Loans

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As countries around the world implement procedures to inhibit the spread of the COVID-19 coronavirus, many changes are obviously having increasingly adverse effects on the economy. With borders closed and free movement...more

Hogan Lovells

CVAs – retail’s flexible friendship continues

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On 19 September 2019, Norris J handed down judgment in the challenge brought by six landlords against the Debenhams Retail Limited (Debenhams) company voluntary arrangement (CVA) which was approved by 94.71% of Debenham’s...more

Hogan Lovells

BHS Company Voluntary Arrangement – Landlords Win on Penalties

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The English High Court has decided that collapsed retailer British Home Stores cannot challenge its own company voluntary arrangement as an unenforceable contractual penalty and must repay rental discounts to its landlords...more

Dechert LLP

Focus on Restructuring Processes: CVAs and Liquidation in the context of Carillion

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In recent months certain restructuring processes have gained quite some notoriety in press headlines in connection with a number of UK businesses. This article provides secured lenders with a brief recap on the key points to...more

Blake, Cassels & Graydon LLP

Retail Insolvencies in Canada Series, #1: Landlord Perspectives

This article is the first instalment in a series examining large retail insolvencies in Canada from the perspective of various stakeholders. The Companies’ Creditors Arrangement Act (Canada) (CCAA) is the principal statute...more

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