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Landmark case costs Game £3m back rent
A case has changed the law concerning the payment of rent in an insolvency situation
An insolvency case in London is good news for landlords Vladitto
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A landmark ruling in London has given landlords the right to be treated as priority creditors when a company goes into administration. For Game Group, which went into administration the day before its quarterly rent was due, this ruling means paying £3m to big property companies including Land Securities and British Land. BLP partner Michael Metliss, who represented the landlords, said the decision should bring clarity a contentious area of law. The case may now go to the Supreme Court if Games appeals. Source: Financial Times
