30/09/2020
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Wednesday 30 September 2020
We are hosting a four-part webinar series, with a focus on topical insolvency issues
The webinars are aimed at those working within local authorities and NHS Trusts who deal with the consequences of commercial tenant and supplier insolvency, such as in-house legal and estates professionals and asset managers.
This subject area is of particular relevance at present, given the potential for insolvencies brought about by the COVID-19 pandemic.
The webinars are 45 minutes each and are aimed at getting over the key points on each topic in an accessible way with practical tips.
Recent times have seen an increased use of CVAs by struggling businesses who want to reduce their debts in order to survive. They are of particular relevance to commercial landlords, because a CVA can be used to restructure a tenant’s lease obligations – which will often involve rent reductions. For example, this was done recently by Travelodge to reduce its rent obligations in relation to around 500 hotels, many of which are let to it by local authority landlords.
We looked at:
- What a CVA is
- Its potential effect on creditors, including landlords
- How creditors are consulted and the voting process
- Consequences of non-compliance by the business with the CVA terms
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