On Nov. 22, UK Chancellor Phillip Hammond announced dramatic changes to the UK real estate market in the 2017 Budget. The Government has announced an
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Another Major Step for Greenberg Traurig’s Already Strong European Real Estate Sector: Danielle Martin to Join in London as Shareholder
Greenberg Traurig is pleased to confirm that Danielle Martin has announced she will leave Reed Smith to join us as a shareholder in London,
Continue Reading Another Major Step for Greenberg Traurig’s Already Strong European Real Estate Sector: Danielle Martin to Join in London as Shareholder
Subtenants position following disclaimer of head lease
A liquidator of a tenant is entitled to disclaim onerous property (including leases). This terminates the rights and liabilities of the tenant under the head lease.
Any person with an interest in a disclaimed lease can apply for the lease to be vested in them within three months from the disclaimer. A head landlord can only apply once any subtenants and mortgagees have refused a vesting order, which has the effect of determining that party’s interest in the property from that point, bringing such sublease or mortgage to an end.
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Releasing Lease Guarantees by Mistake
Written by Andrew Edwards
The recent decision in Topland Portfolio No. 1 Ltd v Smiths News Trading Ltd acts as a reminder to landlords of
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