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This was a 15 year lease on a Sports Club of which my son was a tenant for 3 years before the business folded.
The lease has not been sold or forfeited. On entering an IVA my son was under the impression that he was no longer eligible to hold a lease. The landlord seems quite content to leave the property as it is with the lease still in my sons name.
As the local council is one of the creditors and agreed to the IVA being taken out are they legally in their right to demand more money. We were under the impression that once a creditor agreed to this arrangement they could not apply or ask for more money and that the lease would automatically revert back to the landlord. Since the IVA has been taken out the Landlord has not been in touch with my son and has not asked for more money as he was the main creditor.
Apologies for not replying sooner. Have been away for a few days. Thank you for your reply. This matter seems to be getting more and more complicated and my son now feels that the best solution is possibly for him to go bankrupt. Thank you for your advise and help in this matter. For being very patient with my request I would like to award you the stars you require. Thanks George Connor