I am a lease holder on a commercial fishery that has gone into administration Oct o7. Im having some problems working out what is happening. I have spoken to the administrators that have assured me that my lease will be fine. They are getting the fishery ready to sell and i will carry on with the next owner. After doing some digging on the net ive been left confused??? The fishery in question has a house on it and was brought by the owners as a "commercial fishery" and they lived in the house and ran the fishery. However after looking at the land registry I have discovered that the fishing lakes have been registered under a different name lets say "tenton" and the house has been registerd to the owners name. Then i found out that "tenton" is indeed the owner of the house but is running the lakes under the name of "tenton" so will he get to keep the house if it is just "tenton" that has gone into administration???? I have also been paying my rent to a completely different company than "tenton"
The owner of the lakes also has a farm with a business on it next door but not in the name of "tenton so will he get to keep this too??
When the fishery first went up for sale it was on the market for 1.5mil (including the house) but looking at the land registry the fishery has been split up into 3 different titles each costing 650.000 "tenon" brought all 3 which equates to 1.9mil then they payed an extra 525.000 for the house which in total equates to 2.4 mil. "tenon" recently put the fihsery on the market including the house just before they went into administration for 1.6mil but had no takers. so if they paid 2.4 why would you sell for 1.6??? Oh and did i forget to mention that the previous vendor is the chap that owns "tenon" step son!!! and this will be the 4th time in 16 years that he has gone bust! I have got an appointment with the administrator tomorrow do you think i should tell him this info.
Hello there and welcome to the 'forum' the only advvice i can give you here is as follows - speak to the administrator tomorrow as arranged and clarify your position with regards to your lease. When that has been dealt with, and only then (try not to cloud the issue with irrelevant information) make the administor aware of the information that you presently know, but be prepared he may not be interested - he will only be dealing with the business for which he is appointed 'administrator' but you have nothing to lose by informing him of what you in effect know - it may well be that the information you have discovered is relevant to the business that the administrator is dealing with. But sort out your lease situtaion first, otherwise you may lose sight of why you have the appointment in the first place, to sort out your lease. The rest is an aside.
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles
Thank you Melanie for your reply. I think my lease is fine he has already told me so but the other bits are somehow not right?? it looks as if fraud is being committed somewhere????? don't know for sure??? but thank you anyway fingers crossed for tomorrow x
HiI am a lease holder on a commercial fishery
Posted - 09 March 2009 : 14:01:12
