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March 9th 2002 - Disclaimer of Leases and its impact; the "Pecking Order"
The liquidator of an insolvent tenant company has the ability to disclaim the lease as "onerous property" pursuant to the Insolvency Act 1986.  Paul McCartney considers that the effect of the disclaimer both in relation to the tenant and to other parties with an interest in or liabilities under the disclaimed lease, and examines how, through the application of different areas of the law, parties affected by a disclaimer may protect or improve their position.  This article was first published in Insolvency Law and Practice 2002 Vol18 No3 79-89.
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