Authorised guarantee agreement
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The court upholds a GAGA
EMI Group Ltd v The Prudential Assurance Company Ltd concerned a lease that was granted to HMV…
Allyson Colby -
Careful drafting is needed to keep outgoing guarantors on the hook
Were the guarantee provisions in a licence to assign enforceable?
Allyson Colby -
The High Court has rescued a poorly drafted AGA containing provisions that appeared to render it, or part of it, invalid.
The Landlord and Tenant (Covenants) Act 1995 provides that, on an assignment of a lease created after 1 January 1996, tenants and their guarantors are released from liability on their…
Allyson Colby -
PP 2009/28
Loss when liquidator disclaims the lease
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PP 2000/97
Q A draft lease in favour of Shellco requires the making of an authorised guarantee agreement (AGA) before the lease can be assigned.
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PP 2000/26
The renewal of a business lease under the Landlord and Tenant Act 1954 will, in almost every case, create a “new tenancy” for the purpose of the Landlord and Tenant…