Just another reminder that it is important you remain aware of the severe consequences of a Premises Licence Holder being made bankrupt or entering into any form of Individual Arrangement.
The Law is that the death or insolvency (whether it be by way of bankruptcy, IVA, CVA, Dissolution of a company or winding up of a company) of the Premises Licence Holder has the effect of lapsing the Premises Licence with immediate effect. Unless action is taken to protect the Premises Licence within 28 days it then lapses permanently and the only way of dealing with the matter is by way of application for a brand new Premises Licence, which if granted, may well not be the same terms as the Licence that previously existed.
It is very important that BDMs look out for signs of a problem for example do you know that the Tenant is being threatened with bankruptcy by HMRC? If so it may be appropriate to take pre-emptive action to transfer the Premises Licence in advance.
We have in recent times had a number of instances of Licences apparently unnecessarily lapsing for these reasons.
As ever if you have any queries concerning this please do not hesitate to contact Andrew on his landline 01332 226 142 or mobile 07720 414 598.