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UK Restructuring Ruling Impact for Guarantors and Landlords

The UK High Court has ruled the obligations of third party guarantors are not affected by a part 26A restructuring plan being sanctioned in respect of the underlying obligations. This ruling is good news for landlords as their recourse to guarantors is preserved.

Restructuring Plan Does Not Relieve 3rd Party Payment Obligation

In Oceanfill Limited v Nuffield Health Wellbeing Limited and Cannons Group, UK court ruled a guarantor makes payment under the guarantee, it may be entitled to seek recovery from the tenant based on its rights of subrogation even in the case of restructuring.

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