Events

Blundell Lectures: Volunteering to be Fleeced - Retail Tenant CVAs

SPEAKERS:

Mathew Ditchburn, Hogan Lovells International LLP
Stephen Jourdan QC, Falcon Chambers

In recent years, retail tenants have started using company voluntary arrangements as a way of escaping from liability under leases of unprofitable stores, with a view to then selling the business. The CVAs are structured so that the money from the sale goes to the creditors other than the landlords of the unprofitable stores and to the shareholders. What can a landlord do faced with a CVA of this kind? Do the unfair prejudice provisions or the good faith principle assist? Mathew Ditchburn and Stephen Jourdan QC discuss.

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