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In the context of commercial leases, the word ‘guarantee’ perhaps offers a degree of reassurance which is misleading. The benefit of a guarantee can be lost by repeated assignment of the lease, or by an agreed variation of the lease, if the landlord fails to obtain the guarantor’s consent to it. The caselaw on the issue of how the benefit of a guarantee may be retained upon an assignment is now substantial and complicated. Insolvency procedures have been used to restructure lease commitments, and effectively relieve parent companies of the burden of guarantees at precisely the point where the landlord expected to be able to call on them. Guarantees may even be set aside for undue influence. And yet landlords still continue to require guarantees, and to see benefit in them.
The other main form of security available is the rent deposit, which raises its own set of issues surrounding financial compliance requirements, effective registration, the impact of insolvency, and procedures upon assignment.
Each has its advantages and drawbacks, and this webinar will compare the two..
The webinar will include:
Thu 17 Oct 2019
£35.00Package PriceClick here for details
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