HOME  FORUM  MEDIA  EVENTS  ARTICLES  TV  BLOGS
•Home
Bankruptcy:
•Bankruptcy Information Center
•What is Bankruptcy?
•Is Bankruptcy right for me?

•How to declare Bankruptcy?
•What happens to my assets?
•Bankruptcy and credit rating

Forum:
•forum
•register
•search
•faq
•experts

Blogs:
•Bankruptcy News
•More...

Media Room:
•Press releases
•Media Coverage

Other:
•About BankruptcyHelp
•Links
•Contact us
•Debt Glossary
•Insolvency jobs


FORUM
  > Browse and post on our forum
Home   |   Profile   |   Register   |   Active Topics   |   Members   |   Search   |   FAQ

Welcome to our Forum, please register if you want to post

 All Forums
 archive
 Forum Questions
 Would I be able to keep my restoration workshop ?

Note: You must be registered in order to post a reply.
To register, click here. Registration is FREE!

Screensize:
UserName:
Password:
Format Mode:
Format: BoldItalicizedUnderlineStrikethrough Align LeftCenteredAlign Right Horizontal Rule Insert HyperlinkInsert EmailInsert Image Insert CodeInsert QuoteInsert List
   
Message:

* HTML is OFF
* Forum Code is ON
Smilies
Smile [:)] Big Smile [:D] Cool [8D] Blush [:I]
Tongue [:P] Evil [):] Wink [;)] Clown [:o)]
Black Eye [B)] Eight Ball [8] Frown [:(] Shy [8)]
Shocked [:0] Angry [:(!] Dead [xx(] Sleepy [|)]
Kisses [:X] Approve [^] Disapprove [V] Question [?]

 
Check here to subscribe to this topic.
   

T O P I C    R E V I E W
Peterdmo16 Posted - 07 November 2010 : 10:14:39
I am a self-employed piano and organ tuner & restorer. As part of my business, I rent a humble workshop for my restoration work and also store tools and spare piano & organ parts there. Would I be able to keep the workshop (assuming the Landlord has no objection) and continue my usual work activities without having to cease doing restoration projects.
6   L A T E S T    R E P L I E S    (Newest First)
Bigal4787 Posted - 08 November 2010 : 11:53:42
Hi,
as the lease excludes security of tenure, that means you don't have certain rights in relation to challenging the landlord in the event of him/her wanting to move you out.

However as previous posts have stated, it is likely that there would have been a clause in the lease agreement, that upon you being declared bankrupt,that the lease would be terminated, and that the landlord could look to get someone else in there, but if it's kitted out for a specific purpose then the landlord may have limited options, so it's worth asking if you can rent it instead.

In relation to the workshop, you will have to declare your tools etc on your SOA, and request that they be exempt on the grounds that you require them for your business

Big Al
debtinfo Posted - 07 November 2010 : 13:37:50
ok then the lease will probably cease at the date of the bankruptcy order then, but as long as the landlord is agreeable then there is nothing to stop you agreeing a new rent or lease with them
Peterdmo16 Posted - 07 November 2010 : 12:35:05
quote:
Originally posted by debtinfo

What is the lease period


12 months and presently expired although I still occupy and pay rent.
The lease agreement excludes security of tenure.

debtinfo Posted - 07 November 2010 : 11:28:11
What is the lease period
Peterdmo16 Posted - 07 November 2010 : 11:21:58
simple unassured lease

debtinfo Posted - 07 November 2010 : 10:27:59
is it a rent or lease

bankruptcyhelp.org.uk Forum © bankruptcyhelp Go To Top Of Page
Powered By: Snitz Forums 2000 Version 3.4.06