A wake-up call for landlords
Language: English Series: Estates Gazette ; (0721) 26 May 2007, 122-124(3)Publication details: 2007Subject(s):- PRUDENTIAL ASSURANCE CO LTD AND OTHERS V PRG POWERHOUSE LTD AND OTHERS
- BURFORD MIDLAND PROPERTIES LTD V MARLEY EXTRUSIONS LTD
- SEA ASSETS LTD V PERUSAHAAN PERSEROAN (PERSERO) PT PERUSAHAAN PENERBANGAN GARUDA INDONESIA
- INSOLVENCY ACT 1986
- England and Wales -- 1543-
- PROPERTY-LANDLORD AND TENANT-TENANCIES
Item type | Current library | Call number | Copy number | Status | Date due | Barcode | |
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Journal article | London Journal article | L138357 (Browse shelf(Opens below)) | 1 | Available | 138357-1001 |
Reports on Prudential V Powerhouse, which considered whether tenants may reduce their landlords guarantees using a CVA. These are procedures enabling companies to reach agreements with creditors. The established principle is that companies may use CVA to alter aspects of the landlord-tenant relationship. These include rent reductions, term adjustments and compulsory surrenders. Because of this case, landlords may now need to be involved in CVA meetings. Without fighting the effects of a CVA, landlords may now lose any guarantees removed by it.