Cladding and owners liquidation?

by Readers Question

17:26 PM, 23rd February 2021
About 4 days ago

Cladding and owners liquidation?

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Cladding and owners liquidation?

A very nice apartment block in one of Surrey’s towns is owned by O&H Ltd. They have applied for administration in June 2020, but not much has been passed onto flat’s leaseholders. However, it looks that the things are going to move.

The main problem of that block is, although it is not high rise it is clad and the balconies have wooden decking (not fire-resistant). Both are a problem, and the cladding makes these apartments unsaleable anyway.

I just need some advice please:

Where do the leaseholders stand in case the owners go into liquidation?

What about mortgages?

Any other problems we should be aware of?

Thank you very much in advance for your thoughts. Any comments and advice will be very helpful indeed.

Whiteskifreak

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