McDermott Comment | Virgin Active Secures Stay On Landlord Claim Pending UK Restructuring Plans

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Mark Fine, partner at law firm McDermott Will & Emery, said:

“This decision from the High Court does not come as a great surprise and is in line with the modernisation of the UK’s legislative regime around insolvency and governance which seeks to provide stability and work in tandem with public policy to protect companies as a going concern. Cooperation of all stakeholders is seen as crucial in order to see some businesses come through difficult times and decisions, such as extending the temporary ban on commercial landlords issuing statutory demands and winding up petitions against commercial tenants who have not paid their rent during the pandemic, back-up this sentiment.”