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(Court of Appeal, Patten, Lewison and Sharp LJJ, 24 February 2014)
Where an office holder retains possession of property for the benefit of the winding-up or administration, rent will be treated as accruing from day to day and payable as an expense of the winding-up or administration. Leisure (Norwich) II Ltd v Luminar Lava Ignite Ltd and Goldacre (Offices) Ltd v Nortel Networks UK Ltd were overruled.
Detailed explanation of the advantages and disadvantages of CVAs