Disclaimer is a procedure available in the liquidation of companies and the bankruptcy of individuals by which the insolvent entity can divest itself of certain continuing obligations.
In this paper, James Ayliffe provides a refresher on the legal principles together with a more detailed examination of some of the practical issues, particularly in connection with the options facing the various persons: landlords, sureties, former tenants or their sureties, subtenants, mortgagees etc - potentially affected by a disclaimer.
About the Author
James Ayliffe's practice encompasses a broad range of commercial/business litigation and advice, including asset finance, banking, company, financial services, insolvency, pensions, professional negligence, property and regulatory work.
He has been described by Legal 500 as "held in high regard" and "widely respected" and by Chambers & Partners as "a team player", "intellectually tough" and "will 'stand up to anyone' ".
Legal 500 (2006) also confirms that he is a "star of the commercial Bar".
This paper is not a substitute for detailed advice on specific transactions and problems and should not be taken as constituting legal advice on any issue discussed.
© James Ayliffe, November 2006.
