Real Estate


October 30th


How to deal with a CVA if you’re a landlord

October 30th

2 - 5pm

Speakers: Elaine Petterson; Lucy McCann; Matthew Farrell

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£135+VAT (Member price)

3hrs CPD

There has been a recent surge in the number of retailers who are choosing to use CVAs as their restructuring option of choice when they get into financial difficulties.  One of the attractions of a CVA to these companies (and sometimes the only reason for the CVA) is it gives them the ability to reduce their real estate liabilities.  CVAs are a powerful restructuring tool, landlords can find themselves being bound by a CVA that they didn’t vote for, which allows a tenant to trade from their premises without paying rent.  What can landlords do?

To answer that, we’ll consider the following:

  • What is a CVA? How does it work?
  • The role of the supervisors – do they take over the company?
  • What is the voting process and what should be considered by a landlord when deciding whether or not to agree to be bound by it?
  • How protected is the tenant if the CVA is passed?
  • The commons terms of a CVA and what they mean.
  • The Notice to Vacate.
  • What happens once the CVA comes to an end?
  • Where are the traps?
  • How can a landlord protect its position before a CVA is passed?
  • Hopefully by the end of the day you’ll be better equipped to advise your client on whether it should agree to a CVA or reject it, and what it should do if it finds itself bound by one.

    The event begins at 2pm. Delegate registration is open from 1:30pm.

    Elaine Petterson has over 10 years’ experience in the property industry and acts for investors, private equity firms and developers in relation to the acquisition and disposal of commercial assets and regularly provides Scots real estate support on high value cross-border portfolio acquisitions. Elaine has bought, sold and managed multiple large-scale retail assets, including shopping centres and retail parks, and also acts for landlords in relation to the leasing and asset management of office buildings and industrial estates. In addition, Elaine has extensive experience acting for insolvency practitioners and lenders in relation to distressed asset sales and providing advice on real estate issues arising as a result of insolvency.

    Lucy McCann has been a member of the Corporate Restructuring and Insolvency team at Brodies since 2007. Lucy advises on all aspects of personal and corporate insolvency and obtained her Certificate of Proficiency in Insolvency in 2011. Lucy acts on behalf of a wide range of clients, including lenders, insolvency professionals, commercial creditors, directors and individuals. She is frequently called upon to advise on asset recovery, challenges of pre-insolvency transactions, directors' misfeasance and a wide range of technical insolvency issues. As a solicitor practicing in our Business Disputes and Asset Recovery team, Lucy has acted for financial institutions in relation to high profile and high value misrepresentation and contractual disputes. Lucy has extensive experience of acting for clients in both the Court of Session and Sheriff Courts. Lucy also has experience of acting on behalf of directors faced with disqualification action, including negotiation of disqualification undertakings and applying to Court on behalf of directors for permission to act as a director while disqualified.

    Matthew Farrell deals with complex and high value real estate disputes for a wide variety of clients, from property funds and corporate occupiers to developers and public bodies. He is especially well known for top end dilapidations disputes, having acted in the leading cases of Grove Investments Limited v Cape Building Products Limited and @SIPP Pension Trustee Limited v Insight Travel Services Limited. He also lectures on dilapidations at Glasgow Caledonian University.