Greencare Developments - Case Update

The Court has refused to grant an extension of time for the administrators of Greencare Developments to continue to occupy premises leased by the company without incurring personal liability for rent and other amounts owing under the lease.

The extension was sought to allow time for the administrators to sell the assets of the larger Hiro Group of companies in-situ.

The Court found that there was no real prospect of maximising the benefit to Greencare’s creditors by an in-situ sale, including in particular the landlord.

Read the decision here.