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Real Estate Private Equity: COVID-19 and Corporate Tax Residence
Funds and joint ventures for real estate, as for other asset classes, are structured on the basis that each entity involved will be tax resident
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COVID-19 Impact on Landlords and Tenants in England and Wales
The COVID-19 pandemic presents a real threat to the global economy. In England and Wales, commercial landlords and tenants are assessing their respective rights and
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All Systems Go? LIBOR Transition Efforts During the COVID-19 Pandemic
As the COVID-19 situation continues to evolve, market volatility, workplace disruptions and a shuttering of everyday life are becoming increasingly commonplace. While the 2021 LIBOR
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What Duties Do Landlords Have in Relation to Potential Coronavirus Infections in England and Wales?
The Coronavirus continues to spread throughout China and around the world, leaving many questions as to who is responsible for what and whether there are
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Greenberg Traurig Advises On Hotel Deal Valued At Approximately £858 Million
LONDON – 6 August 2018 – A multidisciplinary London-based team at global law firm Greenberg Traurig, LLP advised InterContinental Hotels Group plc on its arrangements
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Major UK Real Estate Tax Changes for Overseas Investors Announced
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,
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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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