Welcome to the June 2016 edition of our Quarter Day newsletter.
Fladgate LLP Quarter Day June 2016
- Assignments by tenants to their guarantors are ruled as void
A recent High Court decision is commercially relevant and important to those dealing with tenant insolvency and also for all due diligence of investment transactions where an assignment of a lease from the tenant (T) to its guarantor (G) is purported to have taken place. [more]
- Payment applications – “clear as mud”
Many an unwary contractor or disorganised employer has fallen foul of contractual and statutory payment provisions in construction contracts by failing to serve notices correctly. [more]
- No surrender!
In difficult times tenants of commercial premises, particularly if they are insolvent, may try to escape future liability under a lease by an informal surrender. [more]
- Notification Injunctions – a new form of injunctive relief
The court has recently introduced an innovative and constructive form of injunction which takes, from the model of the traditional freezing injunction, the need to notify a claimant prior to a defendant proposing to divest itself of any assets without having to bear all the commensurate burdens that attach to a standard freezing order. [more]
- Lease extensions of flats – Traps for the unwary
When tenants first acquired the right to extend their flat leases under the Leasehold Reform, Housing and Urban Development Act 1993 (Act), there was a perception that this was not as attractive as the other right created by the Act, to collectively acquire the freehold title to the building in which the flats are situated. [more]
Updates for real estate professionals