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Debenhams Wins CVA Appeal

In an expedited trial the High Court has rejected the application of the landlords to challenge the Debenham's CVA.

The challenge was on five grounds mainly surrounding whether a CVA can amend the rights of landlords or whether this unfairly prejudices the landlords. 

The ruling in favour of the CVA (on four of the five points) is a huge relief for Insolvency Practitioners as a loss here would have made retail CVAs, in particular, very difficult to make work.

This is not the end of the case as the decision as to whether the landlords had leave to appeal has been adjourned to a later date.

Full details on the outcome of this case, the individual legal points on each part of the ruling and practical thoughts will follow shortly in our next CPD Tap webcast for our CPD Tap subscribers. 

 

 

 

Posted: 23.09.2019
Tags:  announcement
 


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