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Wildy’s Book News

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Vol 24 No 7 July/August 2019

Book of the Month

Cover of The Law and Practice of International Finance: Set of 9 Volumes

The Law and Practice of International Finance: Set of 9 Volumes

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Commercial Leases and Insolvency 5th ed

ISBN13: 9781526501738
Previous Edition ISBN: 9781847661470
To be Published: April 2020
Publisher: Bloomsbury Professional
Country of Publication: UK
Format: Paperback
Price: £120.00

Commercial Leases and Insolvency is accepted as the best source of reference for practitioners advising the parties when a tenant of a commercial property becomes insolvent. It examines a complex range of legal issues covering both the insolvency rules and property law. It also provides an overview of the various procedures available under the insolvency regime and the different contexts within which a lease may operate helping commercial landlords and mortgagees of commercial leases and tenants understand their respective rights and obligations when a tenant defaults in payments through insolvency.

The fifth edition incorporates substantial changes following the implementation of various parts of the Tribunals Courts and Enforcement Act 2007. This includes the abolition of distress in April 2014 and the introduction of the Commercial Rent Arrears Recovery regime. In addition, important changes affecting execution of judgments for rent are included – as well as the consequential repeal and replacement of rights to recover head-rent from sub-tenants included in the Law of Distress (Amendment) Act 1908.

This edition also covers numerous court decisions settling important points of law. Perhaps the most notable is the decision in Jervis v Pillar Denton confirming the extent to which rent is a priority expense in administration. Since the last edition the courts have also handed down significant judgements in many areas including in respect of creditor rights in voluntary arrangements, landlord rights to possession following administration and liability for business rates and of sureties following disclaimer. Other cases covered include:

  • Mourant & Co Trustees Limited v Sixty UK
  • MRC v Portsmouth City FC
  • Westminster Bank Plc v Kapoor
  • Glatt v Sinclair, Re Colliers International UK plc
  • Clydesdale Financial Services Limited v Smailes
  • Lazari GP Limited v Jarvis and re SSRL Realisations Limited (in administration)
  • Southwark LBC v Clarke
  • Schroder Exempt Property Unit Trust v Birmingham City Council
  • Shaw v Doleman

Insolvency Law, Commercial Property
1. Tenant Insolvency
2. Liability for rent and other obligations under a lease
3. Commercial Rent Arrears Recovery
4. Forfeiture of the lease
5. Liability of original tenant, assignees and sureties
6. Disclaimer of lease by trustee in bankruptcy or liquidator
7. Surrender or assignment
Appendix: Taking control of goods