News & Analysis as of

Insolvency United Kingdom Landlords

Herbert Smith Freehills Kramer

Crossing Jurisdictions - Dealing With Tenant Insolvency in the European and US Commercial Real Estate Markets

The global commercial real estate market paints a varied picture, with certain jurisdictions and sectors recovering quicker than others from the COVID-19 pandemic and continuing geopolitical uncertainty. Higher interest rates...more

Hogan Lovells

Restructuring Plans: how to plan for an exit

Hogan Lovells on

An earlier version of this article appeared in Estates Gazette. Over the last 18 months we have seen a number of retailer restructuring plans, which have rewritten landlords’ leases and imposed sweeping rent cuts, whilst...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”)

Hogan Lovells on

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

Hogan Lovells on

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

A&O Shearman

The Corporate Insolvency and Governance Act 2020

A&O Shearman on

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

BCLP on

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

Hogan Lovells on

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

Hogan Lovells

The Sun Also Rises on Pre-pack Administration Reform

Hogan Lovells on

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?

BCLP on

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

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

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

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