Published today in Property Week, DJB Commercial and Property Litigation Partner Jonathan Warner-Reed gives his view on amendments to Part 26 of the Companies Act in light of the recent Virgin Active restructuring plan.
"It's a terrible situation. The future implication is that tenants who owe lots of money because of rent deferrals may then go: 'Oh, we owe lots of money and are now in financial difficulty, so let's enter into a Part 26a scheme.'"
Read the article in full below here.
ABOUT DJB:
DJB is a national law firm that specialises entirely in real estate. The firm has offices in London, Manchester, Birmingham and Taunton ensuring truly national coverage.
The firm is renowned for its high quality legal work and service.
We only recruit experienced lawyers with excellent calibre. As a result, our legal team of around 50 lawyers have an average post-qualification experience that exceeds 20 years. Most have joined us from other City firms, in-house departments and/or senior roles. Our lawyers have advised some of the UK’s most significant land owners including Barclays Bank, HSBC, Credit Suisse, Rolls Royce, The Royal Parks, The Cabinet Office and The Crown Estate. This focus on quality only has led to a 50% male and female Partner rate.
All of our clients are provided with a dedicated client care professional at no extra charge, which ensures that they receive the highest standard of service at all times.
DJB is regularly selected to advise on high profile projects such as the hosting of the London 2012 Olympic Games by The Royal Parks and the first Sukuk Bond to be entered into by a Western Government on behalf of HM Treasury. Based in London at The Shard and also Manchester, Birmingham and Taunton, DJB has a national presence.
The firm enjoys top tier rankings in all of the main directories, as well as receiving many awards.