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International Corporate Rescue

Journal Issues

  • Vol 1 (2004)
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  • Vol 15 (2018)
  •         Issue 1
  •         Issue 2
  •         Issue 3
  •         Issue 4
  •         Issue 5
  •         Issue 6
  • Vol 16 (2019)

Vol 15 (2018) - Issue 6

Article preview

Re SHB Realisation Ltd (formerly BHS Ltd); Wright and another (as joint liquidators of SHB Realisations Ltd (formerly BHS Ltd)) v Prudential Assurance Companies Ltd [2018] EWHC 402 (Ch); [2018] All ER (D) 58 (Mar)

Sarah Clarke, Barrister, Hardwicke, London, UK

Synopsis
With high street insolvencies on the rise, CVAs have grown in popularity as a restructuring tool, allowing companies to hold on to leases for the purposes of continued trade at a reduced rent, in the hope that this will facilitate rescue. Re SHB Realisations Ltd is a timely decision about the effect of such rent concessions within a company voluntary arrangement. Although elements of the judgment in Re SHB Realisations Ltd turn upon the provisions of the specific CVA, the decision also clarifies some important principles relevant to voluntary arrangements and administrations generally.

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International Corporate Rescue

"International Corporate Rescue is the ultimate legal and commercial guide through the maze of complex cross border insolvency and restructuring issues."

William Q Derrough, Managing Director and Co-head of Recapitalization & Restructuring Group, Moelis & Company, New York

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