Q&As

Are there any specific points for consideration when a company is purchasing land from a company that itself purchased from a company in administration less than one year ago?

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Published on LexisPSL on 15/08/2018

The following Restructuring & Insolvency Q&A provides comprehensive and up to date legal information covering:

  • Are there any specific points for consideration when a company is purchasing land from a company that itself purchased from a company in administration less than one year ago?

Are there any specific points for consideration when a company is purchasing land from a company that itself purchased from a company in administration less than one year ago?

Practice Note: Administration sales involving property—process and options for a buyer considers the key issues when selling or acquiring a property (freehold or leasehold) as part of a sale of the asset and business from a company in administration. It also considers the difference in approach between acquiring property from a solvent company and one that is in administration.

A key point to note is that unlike in standard property transactions, when buying property from an administrator, the buyer does so without any guarantees or warranties.

Therefore, if the administrator has sold the land in question validly, it is unlikely that there would be any specific considerations to be had when buying property from a company that purchased from an administrator.

You may also find useful Practice Note: Buying a business from an insolvency practitioner.

If the administrator has acted wrongly/fraudulently during the initial sale of the property there may potentially be some

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