Insolvency

Overview

Complex cases involving overlapping issues of property law, company law, and insolvency law are well suited to Landmark’s barristers given the breadth of knowledge and experience in the team: silks and juniors at all levels in the property team have expertise in property related insolvency disputes as well as the many various proprietary, equitable, landlord and tenant, unjust enrichment, company, contractual and/or tortious issues that can arise in cases where insolvency intersects with property.

In particular, we have acted and advised on a number of high profile cases corporate insolvency cases with property law issues: such as cases involving company voluntary arrangements and landlords’ challenges to them; claims for the payment of rent as an expense in administrations or liquidations; cases involving disputes regarding the beneficial ownership of sums paid under rent deposit deeds; and, applications for permission to forfeit while a tenant is in administration. Barristers are also well placed to assist where developers are insolvent, which often give rise to issues regarding the existence of security rights and beneficial interests in the development land.

Additionally, Landmark’s strength in claims involving trusts of land makes its barristers particularly well equipped to deal with claims by or on behalf of trustees-in-bankruptcy of family homes.

Landmark’s barristers are also excellently placed to advise on enforcement strategies, given that its members are routinely involved in the enforcement of debts arising in the property context. Knowledge of insolvency and receivership can form part of any enforcement strategy and Landmark barristers are adept at considering the wide range of property related enforcement tools at a creditor’s disposal.

Cases can also involve issues following the conclusion of an insolvency procedure and the dissolution of a company. Barristers routinely advise on and act in cases involving the beneficial ownership of company property and/or applications for the vesting of property formerly owned by the company, whether under the Trustee Act 1925, the Law of Property Act 1925, or the Companies Act 2006.

Recent significant cases in which barristers have been involved include:

• Discovery (Northampton) Ltd v Debenhams Retail Ltd [2020] EWHC 1430: Seminal landlords’ challenge to a tenant’s company voluntary arrangement.
• Re London Bridge Entertainment Partners LLP (In Administration) [2019] EWHC 2932: Most recent decision concerning the extent and scope of the Lundy Granite principle regarding the payment of sums due under a lease as an expense of the administration and the forfeiture of the lease.
• Sunberry Properties Ltd v Innovate Logistics Ltd (In Administration) [2008] EWCA Civ 1321 and Re SSRL Realisations Ltd (In Administration) [2015] EWHC 2590: Leading authorities on the jurisdiction to grant permission to terminate a company’s interest in premises while in administration.