Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 17 · Administration in Bankruptcy
374. Disclaimer of leaseholds
Feedback & supportA disclaimer under section 373 of any property of a leasehold nature does not take effect unless a copy of the notice of disclaimer has been served (so far as the Official Assignee is aware of their addresses) on every person claiming under the bankrupt as sub‑lessee or mortgagee and either —
property
“property” includes —(a)money, goods, things in action, land and every description of property, wherever situated; and(b)obligations and every description of interest, whether present or future or vested or contingent, arising out of or incidental to property;
no application under section 375 is made with respect to the property before the end of the period of 14 days starting on the date on which the last notice served under this subsection was served; or
where an application under section 375 has been made, the Court directs that the disclaimer is to take effect.
Where the Court gives a direction under subsection (1)(b), the Court may also, instead of or in addition to any order the Court makes under section 375, make such orders with respect to fixtures, tenant’s improvements and other matters arising out of lease as the Court thinks fit.