TY - JOUR AB - Purpose– The purpose of this paper is to highlight the practical difficulties resulting from the UK Court of Appeal's recent guidance on the effect of anti‐avoidance provisions in the Landlord and Tenant (Covenants) Act 1995.Design/methodology/approach– The paper analyses the Court's guidance, focusing on the inability of a guarantor to take a valid assignment of a lease from the outgoing tenant.Findings– The paper identifies significant implications for due diligence, valuation and pricing of property investments, arguing that the result could be to deprive landlords of access to covenant strength that is crucial to its valuation or to any sale price.Originality/value– The paper reflects practitioner discussions since the Court of Appeal gave its ruling in K/S Victoria Street v. House of Fraser. It highlights significant new issues that must be factored into property due diligence. VL - 30 IS - 1 SN - 1463-578X DO - 10.1108/14635781211194827 UR - https://doi.org/10.1108/14635781211194827 AU - Dowden Malcolm PY - 2012 Y1 - 2012/01/01 TI - Has the UK court created a lease guarantee nightmare? T2 - Journal of Property Investment & Finance PB - Emerald Group Publishing Limited SP - 83 EP - 87 Y2 - 2024/03/28 ER -