Description

In the UK, the world of property insolvency has evolved through one of the biggest financial catastrophes with the bank meltdown flowing from property-backed lending. Since the first edition of Property Insolvency, there have been significant developments in UK property development, insolvent restructuring of many leading retail chains, and the unprecedented rise of fixed charge receiverships. Along with an examination of various areas of insolvency - tenant's insolvency, freeholder/landlord insolvency, property assets and personal insolvency, property taxation and insolvency, mortgagees and receivers, etc. - this second edition includes coverage of: ** the evolution of principles relating to administration expenses in the cases of Goldacre (Offices) Ltd v Nortel Networks UK Ltd (In Administration) (2009), as well as Leisure (Norwich) II LTD and others v Luminar Lava Ignite Ltd (In Administration) and others (2012) ** the use of forfeiture proceedings during administration, as in the 2012 case of Lazari GP Limited and Lazari Real Estates Limited v Game Retail (UK) Limited 2012 ** the use of Company Voluntary Arrangements, particularly in relation to multi-site retailers, for example, Miss Sixty case ((1) Mourant & Co Trustees Ltd (2) Mourant Property Trustees Ltd v (1) Sixty UK Ltd (In Administration) (2) Peter Hollis (3) Nicholas O'Reilly (as joint administrators of Sixty UK Ltd) (2010)) ** in the Patricia Anne Jones v Leonard Trevor Kernott [2011] UKSC 53 developing the ruling in Stack v Dowden [2007] UKHL17 [Subject: Property Law, Insolvency Law]