If a commercial tenant sends you a restructuring proposal, find out which legal process it is using and what it proposes to change. A court-sanctioned restructuring plan under Part 26A of the Companies Act 2006 can affect creditors’ rights. For a landlord, the immediate task is to identify the tenant company, the leases covered and the response deadlines.
Compare the proposal with your lease records
Put the proposal alongside the signed lease and any later variations. Ask your adviser to map the proposed treatment of arrears, future rent and other amounts to each lease. If several properties are involved, make a separate list for each address. Record which company signed each lease and which documents deal with guarantees, deposits or security. Ask your adviser how the terms affect those documents.
Keep copies of the papers you receive, along with any notices of meetings or hearings. Record the dates on which you received them. If the pack refers to a valuation or other evidence about what creditors could recover, request that material early enough for your adviser to review it.
Look at the alternative the company puts forward
Section 901G allows a court in certain circumstances to sanction a plan that a class of creditors has voted against. One condition is that no member of that class would be worse off under the plan than under the most likely alternative if the plan were refused. Another is that a class with a genuine economic interest or a payment in that alternative approved the plan by the required majority. The court retains discretion over whether to sanction it.
For the landlord, that makes the assumptions behind the comparison worth examining. Ask what would happen to the lease, what the company assumes you would recover and how long recovery might take. Give your adviser the current rent account and any information that could affect those assumptions. A clear record of the lease and the figures will help them assess the proposal before the relevant deadline.
Sources
- [Explanatory notes to the Corporate Insolvency and Governance Act 2020](https://www.legislation.gov.uk/ukpga/2020/12/notes/division/6/index.htm)
- [High Court judgment on the Waldorf Production restructuring plan](https://www.judiciary.uk/wp-content/uploads/2026/05/Waldorf-Production-CR-2025-008149-Sanction-Hearing-Judgment-final-for-handdown-5.5.26-002.pdf)