Deed of release by a chargeholder
Deed of release by a chargeholder

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

  • Deed of release by a chargeholder

Dated the [insert day and month] 20[insert year]

Parties

  1. 1

    [name of Lender] a company incorporated in [England and Wales] under number [insert company number] whose registered office is at [insert address of registered office] 'the Lender'

    and

  1. 2

    [name of company in administration] a company incorporated in [England and Wales] under number [insert company number] whose registered office is at [insert address of registered office of administrator(s) if they have effected the change of registered office by then, if not, then the company's usual registered office] 'the Borrower' acting by its [Joint] Administrator[s] [insert name of (joint) administrator(s)] of [insert address of administrator(s)] 'the [Joint] Administrator[s]'

Recitals

    1. (A)

      By a [fixed OR floating] charge dated [insert date of registration of charge] in favour of [insert name of the Lender] granted by [insert name of the Borrower] over [all] the assets 'the Charge', the property to be released by this Deed was charged to the said [insert name of Lender] to secure payment to it as expressed in the Charge.

    1. (B)

      On [date] the [Joint] Administrator[s] were appointed to the Borrowers pursuant to schedule B1 paragraph [14 OR 22] of the Insolvency Act 1986.

    1. (C)

      The Lender has agreed with the Borrower to release the property referred to below from the Charge on execution of this Deed in accordance with the Surrender of the Lease(s) dated [insert date of Surrender

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