Key Points:
A procedure which is followed on an almost daily basis,
a lease disclaimer, may appear to be straightforward and
uncomplicated, but below even the most quotidian processes lies a
complex and not entirely settled body of law.
In June 2012 I wrote an article for this journal
which examined the obligations and options of a voluntary
administrator in relation to leased property. In particular, I
remarked upon the practice of putative "disclaimer" of
leases in voluntary administration (and receivership).
Shortly after the article was published, the Victorian Court of
Appeal handed down its decision in Re Willmott Forests Ltd
(Receivers and Managers appt'd) (in liq) (2012) 91 ACSR 182;
[2012] VSCA 202. It would be somewhat of an overstatement to
suggest that Willmott made the topic of leases and disclaimers
exciting. However, the Court of Appeal's decision, and the
first instance decision it overturned, certainly piqued the
interest of insolvency
