Events

PLA Event: Reaction to the Debenhams CVA challenge (Discovery (Northampton) Limited v Debenhams Retail Limited)

POST-DEBENHAMS: THE AGE OF THE CVA BECKONS?
 
The wave of retailer CVAs (company voluntary arrangements) continues unabated, tearing up leases and slashing rents, with landlords seemingly powerless to stop it. The challenge brought by a group of landlords to the Debenhams CVA – claiming it was unfair and outside the jurisdiction of insolvency law – echoed concerns raised by many property owners and practitioners, but was rejected by the High Court on 19 September 2019.  Was that the industry's best shot, and if so are retail CVAs now unassailable.

Stephen Jourdan QC (fresh from his recent Blundell lecture on CVAs) will provide his reaction to the decision in Discovery (Northampton) Limited v Debenhams Retail Limited and consider what it means for landlords of retail premises. Will all retail CVAs now be deemed "fair" and lawful if they follow a similar model, no matter how painful they are for landlords? Are CVAs likely to become more or less onerous in light of the decision? What are the prospects of any further challenges?

Mathew Ditchburn, Chair of the PLA's Law Reform Committee, will chair the event, which will include the main presentation plus an opportunity for Q&A.  

Tea, coffee and pastries will be provided.

Open to all PLA members on a first come, first served basis. Please click here to book.