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Does a disclaimed lease automatically revest when a company is restored? (Re Buzzlines Coaches Ltd; Mistral Asset Finance Ltd v Registrar of Companies)

Published on: 01 December 2020
Published by: LexisPSL
  • Does a disclaimed lease automatically revest when a company is restored? (Re Buzzlines Coaches Ltd; Mistral Asset Finance Ltd v Registrar of Companies)
  • What are the practical implications of this case?
  • What was the background?
  • What did the court decide?
  • Case details

Article summary

Property Disputes analysis: The court considered the effect of a disclaimer of a lease by the Crown when a company is subsequently restored to the Register of Companies. The court held that the disclaimed lease automatically revests in the company upon restoration. The court also held that if a claim is made for a vesting order (even in the alternative) within 14 days of notice of disclaimer being served, that is sufficient to avoid the disclaimer taking effect, whether or not a vesting order is made. Written by Dr Nathan Smith, barrister, at Kings Chambers. or take a trial to read the full analysis.

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