GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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00:40 Jul 27, 2017 |
English to Polish translations [PRO] Law/Patents - Law (general) / Lease Agreement | |||||||
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| Selected response from: Jacek Kloskowski United States Local time: 01:51 | ||||||
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Summary of answers provided | ||||
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3 +1 | rozwiązać/wypowiedzieć umowę najmu |
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4 | rozwiązać stosunek najmu |
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rozwiązać/wypowiedzieć umowę najmu Explanation: If a company goes into liquidation, the liquidator is able to disclaim the whole of an insolvent tenant’s liability under a lease. The disclaimer ends all of the tenant’s rights, interests and liabilities, effectively meaning that the tenant can get out of the lease early. This can have a significant impact on a landlord, whose expected income from the property suddenly comes to an end. This note explains when the right to disclaim arises, what process the liquidator follows, the practical effects on third parties and the operation of vesting orders. Disclaimer is also available to the trustee in bankruptcy of a bankrupt individual. While this is not specifically covered by this note the process is essentially the same. WHEN DOES THE RIGHT TO DISCLAIM ARISE? An insolvent company is put into liquidation with a view to collecting in the assets and using them to pay off the company’s debts and liabilities (prior to it being dissolved). To enable this process, one of the liquidator’s key powers is his right to disclaim “onerous property”. This is defined as any unprofitable contract or property of the company that is unsaleable or may give rise to liabilities. A commercial lease will almost always be “onerous” as it includes a liability to pay rent and other sums and to maintain the property. WHEN CAN THE DISCLAIMER BE MADE? Generally speaking a disclaimer can take place at any time while the company is in liquidation. However this can leave the landlord in a difficult position, not knowing whether or when the lease will be disclaimed. He is therefore able to force a decision by serving a “notice to elect” on the liquidator. This gives the liquidator 28 days to disclaim, or he loses his right to do so (unless the liquidator makes a court application to extend this time limit). https://www.bsdr.com/publication/tenant-insolvency-disclaime... |
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rozwiązać stosunek najmu Explanation: Rozwiązanie jako pojęcie szersze niż wypowiedzenie (wypowiedzenie jest jednym ze sposobów rozwiązania) i stosunek najmu - bardziej precyzyjne określenie z prawnego punktu widzenia. |
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