In amongst all this (1 Viewer)

[Deleted member 5849]

I don't think I've ever seen a lease that says when a landlord goes bankrupt the tenants can stay once the lease/property is sold. Maybe its different commercially.

We signed a ten year deal, that's part of what any carpet bagger would be picking up with the assets.

 

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[skyblu3sk]

I don't think I've ever seen a lease that says when a landlord goes bankrupt the tenants can stay once the lease/property is sold. Maybe its different commercially.

You can do, I have seen it in data centre contracts however this can mean that you have to negotiate that part of the contract in with the freeholder. Which obviously in this case would be CCC so may not have happened...

 

[fernandopartridge]

You can do, I have seen it in data centre contracts however this can mean that you have to negotiate that part of the contract in with the freeholder. Which obviously in this case would be CCC so may not have happened...

I think it's pretty common in any commercial lease as the rights of the sub leaseholder should be protected

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[Grendel]

I don't think I've ever seen a lease that says when a landlord goes bankrupt the tenants can stay once the lease/property is sold. Maybe its different commercially.

The clauses in the lease agreement protect sub tenants in the event of the head lease going into administration

 

[Grendel]

We signed a ten year deal, that's part of what any carpet bagger would be picking up with the assets.

Along with I assume wasps rfc and it’s sub
Lease

 

[fatso]

I'm sure the club realise that they don't have to fork out millions for a new stadium, all they have to do is sit tight and weight for Wasps to implode, then pick up the CBS arena for peanuts.

Maybe they could withhold rent due to the pitch debacle and hasten the issue
I wonder if they've ever thought of that?

 

[Grendel]

I'm sure the club realise that they don't have to fork out millions for a new stadium, all they have to do is sit tight and weight for Wasps to implode, then pick up the CBS arena for peanuts.

Maybe they could withhold rent due to the pitch debacle and hasten the issue
I wonder if they've ever thought of that?

I’m sure that’s cunning plan 3

No one actually knows what will happen if holdings go into administration- I’m sure wasps finance people are looking at ways to retain the lease even if administration of the holdings business happens and the lease defaults

 

[fatso]

I’m sure that’s cunning plan 3

No one actually knows what will happen if holdings go into administration- I’m sure wasps finance people are looking at ways to retain the lease even if administration of the holdings business happens and the lease defaults

I'd imagine if Wasps go under financially, their only option would be to sell the CBS arena, and I wouldn't think they'd find too many buyers.
Maybe they would look to sell, and remain as tenants, but personally I'd sooner the City buy the Arena and fuck the Rugby club off, that's the only way to guarantee a good playing surface.
Although I doubt if SISU have the funds or the will to do it, and I doubt if the club could generate enough funds to make it viable in the long term.

 

[Grendel]

I'd imagine if Wasps go under financially, their only option would be to sell the CBS arena, and I wouldn't think they'd find too many buyers.
Maybe they would look to sell, and remain as tenants, but personally I'd sooner the City buy the Arena and fuck the Rugby club off, that's the only way to guarantee a good playing surface.
Although I doubt if SISU have the funds or the will to do it, and I doubt if the club could generate enough funds to make it viable in the long term.

Moonstone could make a claim I’d have thought?