Property and insolvency
There are two fairly common situations that arise in relation to
property and insolvency. The first is a landlord trying to recover
rent from a tenant who may be approaching insolvency; and the
second is a secured lender such as a bank or building society
enforcing charges over properties.
A landlord is faced with a challenge if his tenant is in a weak
financial position. One the one hand it is often true that the
creditor who presses hardest gets paid; but on the other pressing
too hard can force a debtor into insolvency. Making the right
decision isn't easy. A landlord and his solicitor need good
information about the tenant; an awareness of the available
remedies; and good negotiating skills. Where there are substantial
arrears and a complex situation involving competing interests great
care needs to be taken to ensure that the outcome is in the
client's best interests.
We advise creditors and debtors and have experience in all the
insolvency procedures, including administration, receivership,
liquidation and bankruptcy.