Business tenant – insolvent – surrender of lease – estoppel

Padwick Properties Ltd v Punj Lloyd Ltd [2016] EWHC 502 (Ch) (HHJ Keyser QC Sitting as Judge of the High Court) (9 March 2016)

This case concerns the question whether a landlord accepted the surrender of a lease by an insolvent tenant. It highlights the common problems and tensions encountered where a tenant is in financial difficulties and is keen to surrender a lease and where the landlord is equally keen not to accept a surrender.