Podcast Location:
Download it here [file size: 27.5 MB]
Categories:
Insolvency & Restructuring
Commercial Property
CPD Points:
Up to 1 point. details »

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Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
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Regulated by the Bar Standards Board:
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Regulated by ILEX:
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Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This CPDcast is aimed at property law and insolvency law practitioners and discusses how an important area of insolvency law, the liability of a company in administration to pay rent under the lease of its premises, has developed following the case of Goldacre (Offices) Ltd v Nortel Networks UK Ltd [2009].

It outlines some of the issues which have arisen following Goldacre and the steps that can be taken by landlords to try and circumvent these problems.

Outcomes:
After completing the course you will:
  • Understand how rent in administration proceedings was previously catered for under the Insolvency Act 1986 before Goldacre (Offices) Ltd v Nortel Networks UK Ltd [2009] and what the perceived problems were with this approach;
  • Know what changes were introduced by the Enterprise Act 2002 and the Insolvency (Amendment) Rule 2003 and the subsequent effect of these changes on rent in administration proceedings;
  • Be aware of how the changes to the Insolvency Rules 1986 were interpreted in Goldacre and how Goldacre has been subsequently interpreted ;
  • Know what strategies could potentially be adopted by landlords to avoid common issues when recovering rent in administration proceedings.
Level:
Specialist Difficulty: 5 of 5
Sources and References:
  • Re Atlantic Computer Systems Plc [1990] EWCA Civ 20;
  • The Enterprise Act 2002;
  • Goldacre (Offices) Limited v Nortel Networks UK Limited [2009] EWHC 3389 (Ch);
  • Innovate Logistics Ltd (in administration) v Sunberry Properties Ltd [2008] EWCA Civ 1261;
  • The Insolvency Act 1986;
  • The Insolvency Rules 1986;
  • The Insolvency (Amendment) Rules 2003 (SI 2003/1730);
  • Lazari GP Ltd & Another v Jervis & Other [2012] EWHC 1466;
  • Leisure (Norwich) II Ltd v Luminar Lava Ignite Ltd [2012] EWHC 951 (Ch);
  • Re Lundy Granite Co, ex p Heavan [1871] L.R. 6 Ch. App. 462;
  • Re Silkstone & Dodsworth Coal & Iron Co [1881] 17 Ch D 158;
  • Re Toshoku Finance UK plc [2002] 3 All ER 961.
Tags:

This CPDcast with restructuring and insolvency expert Richard Baines discusses the issues surrounding the liability of a tenant company in administration proceedings to pay rent as an administration expense and explains what strategies are available to deal with the current position.

NEW! TRANSCRIPT INCLUDED IN ADDITIONAL INFORMATION

Date Recorded: 2nd July 2013

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