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A new Lease of life

10 September 2020 / Cecily Crampin , Tricia Hemans
Issue: 7901 / Categories: Features , Property
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Cecily Crampin & Tricia Hemans investigate reviving disclaimed property
  • One of the effects of the COVID-19 distancing measures and their impact on the economy is an increase in cases of insolvency.
  • Attempts to disclaim onerous property will no doubt become increasingly common.
  • The law on disclaimer, and, in light of Leon v Attorney General, who has standing to apply for a vesting order to bring disclaimed property back to economic life.


Sadly, one of the likely effects of the COVID-19 precautions, and their impact on the economy, is an increase in insolvency, despite the government’s intended relief under the Corporate Insolvency and Governance Act 2020. A particular issue will be businesses unable to pay rent due under commercial leases. In the eyes of insolvency practitioners, leases will be onerous property ripe for disclaimer. Similarly, companies on the brink of dissolution may choose to leave property to go bona vacantia, with the risk of eventual Crown disclaimer. This article reviews the law on disclaimer, and, with reference

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NEWS
Artificial intelligence may be revolutionising the law, but its misuse could wreck cases and careers, warns Clare Arthurs of Penningtons Manches Cooper in this week's NLJ
Bea Rossetto of the National Pro Bono Centre makes the case for ‘General Practice Pro Bono’—using core legal skills to deliver life-changing support, without the need for niche expertise—in this week's NLJ
Small law firms want to embrace technology but feel lost in a maze of jargon, costs and compliance fears, writes Aisling O’Connell of the Solicitors Regulation Authority in this week's NLJ
Charles Pigott of Mills & Reeve reports on Haynes v Thomson, the first judicial application of the Supreme Court’s For Women Scotland ruling in a discrimination claim, in this week's NLJ
The Supreme Court issued a landmark judgment in July that overturned the convictions of Tom Hayes and Carlo Palombo, once poster boys of the Libor and Euribor scandal. In NLJ this week, Neil Swift of Peters & Peters considers what the ruling means for financial law enforcement
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