RVB Investments Ltd v Bibby

His Honour Judge Behrens sitting as a Judge of the High Court in Leeds ____________________

Stephanie Jarron (instructed by FBC Manby Bowdler LLB) for the Claimant Alastair Bibby acted in person Hearing dates: 16 and 17 January 2013 ____________________

 The lease of Unit 4 is dated 9 November 2005 and was for a term of 5 years from that date. The rent payable was �48,000 p.a payable in advance on the usual quarter days. It contained covenants by the Tenant to pay a service charge, sums in respect of insurance and to indemnify the Landlord against rates and other taxes. It is not necessary to refer to the rent review clause. The provisions relating to the Surety are identical to those in the Unit 2 lease.

Hindcastle is of course binding on this court. To my mind it precisely covers the situation in relation to Unit 4. As already noted the Liquidator disclaimed the lease on 25 th November 2008. Subject to the question of the Landlord taking possession and/or surrender of the lease which is considered below it follows from Hindcastle that the disclaimer did not discharge the Surety.

It is to be noted that the provisions of section 1015 are, in all material respects, identical to those contained in section 178(4) of the Insolvency Act 1986. In those circumstances the law applicable to that section derived from Hindcastle applies with equal force to a disclaimer under section 1013 of the Companies Act 2006 as it does to a disclaimer under section 178(2) of the Insolvency Act 1986.