The rules of the Game have changed for landlords and administrators
By Craig Downhill
On 24 February, the Court of Appeal gave judgment in the Gamestation case (Jervis v Pillar Denton and Others). It affects the way that rent is treated in an administration.
When the Game group of companies went into administration, one company was the tenant of hundreds of leasehold properties under which, in most cases, rent was payable in advance on the usual quarter days.
£10m in rent became due under the leases on 25 March 2012. The group went into administration the next day. Some stores closed immediately. Others continued trading and were included in a sale of the business and assets. £3m of the March rent remained outstanding in respect of those stores that continued trading…
Click on the link below to read the rest of the Shoosmiths briefing.
News from Shoosmiths
News from The Lawyer
Briefings from Shoosmiths
The Marriage (Same Sex Couples) Act 2013 comes into force on 13 March 2014, with the first same-sex weddings taking place on 29 March 2014.
A consistent message is that there is a rapidly approaching ‘data capacity crunch’.
Analysis from The Lawyer
Compliance and corporate governance codes for large financial institutions will undoubtedly include provisions to regulate high pay in the future
There’s more to the ABS model than attracting the man in the street and procuring external investment. Partners at the big corporate firms, take note…