This article was co-authored with Liam Shiel-Dick.
This article contains a summary of the following article originally published in the Insolvency Law Journal: Lessors Priority in External Administration and the Virgin Australia Administration (2023) 31 Insolv LJ 142
In Part 1 of this series, we described how the Corporations Act 2001 (Cth) seeks, in the unfolding of a companys administration, to balance the rights and interests of landlords against the broader objectives of an administration: to achieve a restructuring or other outcome for all creditors which is better than a liquidation outcome.
As part of that legislative scheme, administrators can be personally liable for rent. The administrator may retain the leased property rent…
Read the full article at: https://www.nortonrosefulbright.com/en-au/knowledge/publications/320f14f9/navigating-tenant-external-administration-a-guide-for-landlords-part-2
