LAST WEEK the Court of Appeal passed a landmark case that judged Britain’s biggest landlords have won the right to be treated as priority creditors when a company goes into Administration.
The Court of Appeal ruled that tech retailer Game Retail, formerly known as Game Group, must pay its landlords some £3m in back rent for the period before it went into Adminsitration two years ago.
Those landlords included Britain’s biggest property companies, Land Securities, British Land, Hammerson and Intu.
The decision may be appealed to the Supreme Court but many questions remain in the meantime for both Recovery Practitioners and Landlords.
However for the avoidance of doubt and to minimize the risk of rental liability case expenses, John Pye Professional Services can offer a suitable and robust alternative.
We provide Recovery Practitioners with free asset appraisals and swift tried & tested logistics to relocate asset holdings to secure holding facilities whether for temporary storage or for subsequent marketing and auction.
Our national network of 9 UK sites incorporating a triangle of primary Asset Facilities covering East & West Midlands and Greater London, is unrivalled with more than 250,000 sq. ft. of indoor space across salerooms 14 salerooms and enough yard space to secure more than 1,200 vehicles at anyone time.
These facilities have been stress tested over the last two years by some of the biggest names in the UK Secondary Market, from Barclays Asset Finance through to the DVLA, HMRC, John Lewis and Tesco for national stock & asset disposals.
To arrange a due dilligence tour of our facilities fill in the following online form and one of our 24 strong Professional Services team will respond to your enquiry.
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