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

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

  • Deed of release by a chargeholder
  • Parties
  • Recitals
  • Definitions
  • Interpretation
  • Schedule 1The Lease[s]
  • Schedule 2The Excluded Property

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'

  2. 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.

  2. (B)

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