Legal Question - Can Anyone Help Please?

Clive is leasing his unit, its a 5 years full repairing lease, (which apparently means he has to make any repairs that need doing at his expense during the term of the lease ), and he has 4 years left to run on it.

This week his landlords have been placed into receivership, their website tells who is dealing with it and that tenants and suppliers are unaffected by the appointment of a receiver and should continue to deal through normal channels.

He pays his rent on a monthly basis and was intending to continue to do so whilst everything is sorted out, but one of the other tenants (who is a bit of a wide boy!!) has told him he should withold any future payments. Clive is loathe to do this as he always does things "by the book", but he does have some questions..i.e. if they find a new buyer for the units will his lease have to be re-negotiated, could they put the rent up and, if so, will he have a get out option if he doesn't want to stay with the new owners. What if, due to the current economic climate they are unable to find a new buyer, will he be able to walk away from the lease? Also, he paid a 3 month deposit when he took on the lease...will that be safe?

Is there anything he should be wary of, money is tight for everyone at the moment and he can't afford to get stung over this, it would mean the end of business if this happened.

I would contact the receivers for starters & also take some legal advice from a qualified solicitor who deals with business law

Thanks for that, we will contact them on Monday to see what the situation is.

I would think it would need to be drawn up again, as it is a new landlord and contract.
It might be because you already have an agreement it runs its time then drawn up a new contract.
Sorry not much help, ask a solicitor.