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UK Financial Conduct Authority Secures Conditional Resolution Of Proceedings Against Park First And Its Senior Management

UK Financial Conduct Authority Secures Conditional Resolution Of Proceedings Against Park First And Its Senior Management
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Moratorium on winding up orders extended to September 2021 – and what of arrears? | Hogan Lovells

Moratorium on winding up orders extended to September 2021 – and what of arrears? | Hogan Lovells
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High Court gives Virgin Active CVA green light in further blow for landlords : CityAM

High Court gives Virgin Active CVA green light in further blow for landlords Landlords have lost their legal challenge against Virgin Active’s restructuring plan, in the second high profile defeat for commercial property owners this week. Today’s High Court judgement will come as a further blow to landlords hoping to challenge tenants over Company Voluntary Arrangements.  It comes after the court gave New Look the green light to press ahead with its restructuring plan earlier this week following legal action from its landlords. The Virgin Active CVA proposals include plans to terminate the leases of some poorly performing gyms and to pay less rent on other properties.

Landlords vs retailers: What the New Look legal case means for future of CVAs : CityAM

Landlords vs retailers: What the New Look legal case means for future of CVAs September s CVA was New Look s second in two years (Getty Images) New Look today defeated a legal challenge to its restructuring plan by a group of its landlords in a landmark case that experts say will clear the way for other retailers to use Company Voluntary Arrangements to combat the impact of the pandemic.  The ruling is likely to deepen tensions between tenants and landlords, as the former is emboldened to demand rent cuts and the latter feel increasingly unfairly treated by the courts. In September last year the high street fashion chain secured creditor approval for a CVA – it’s second in less than two years. At the time it had enough cash to survive for a further month and was facing insolvency, according to today’s High Court judgement.

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