Quote:
Originally Posted by Peter Mallett
In my experience the receivers will try to get as much for the property as they can. The lessor is just one of the creditors and as possibly the largest they'll want a massive financial settlement. If they can't get that then they'll sell it to whomever will pay the most. So, if you want Donington to survive you'll need to cover the cost of the debt so that you can then rebuild it.
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It depends what happens. If the Administrators (not receivers) sell it off they may well want to get rid of some of the debt.
BUT if the lease is either disclaimed or it reverts to the landlord in some other way then it is up to the landlord to do another deal and that wouldn't include the debt.