AAA: Game Station — fair play?
The Court of Appeal has decided that rent accruing during a period of administration should be treated as an expense of the administration, irrespective of the date on which it falls due for payment. Administration expenses are paid by administrators in priority to liabilities owed to holders of security.
The decision in Jervis v Pillar Denton Ltd (Game Station) and others overrules the position in Goldacre and Luminar, so that landlords receive rent as an expense during the period that an administrator uses leasehold premises for the benefit of the administration.
Wragge & Co’s restructuring experts previously considered arguments landlords could run on the principles of Atlantic Computers after the Luminar decision…
Click on the link below to read the rest of the Wragge & Co briefing.
News from Wragge Lawrence Graham & Co
News from The Lawyer
Briefings from Wragge Lawrence Graham & Co
In part two of this series, Martin Chitty takes a closer look at what action has been announced and the options open to employers.
Dispute resolution in the UAE: what are the options? Part three — enforcing an arbitration award in the UAE
Different regimes apply in the UAE for enforcing international awards and local awards (i.e. awards made within the UAE).