Counsel advised that underletting is governed by the lease and generally requires landlord consent; unauthorised subletting would likely constitute a breach exposing the leaseholders to enforcement, including forfeiture, and both leaseholders to joint and several liability under the reversionary lease. On the material supplied there was no immediate basis to establish a proprietary interest in the trading company or an automatic right to its accounts or shares; establishing such rights would require documentary evidence of an underlying joint venture, shareholdings or equitable arrangements. Counsel recommended an initial investigatory phase: obtain the original and reversionary leases, any subletting documentation and company records, and request confirmation from the landlord as to any consent history before deciding whether to pursue enforcement or litigation.

Outcome and Barrister Successes

Counsel identified the controlling lease provisions and translated a complex factual matrix into a clear, practicable strategy. Counsel set out proportionate, evidence-led next steps to secure the documents and information necessary to test claims without immediate recourse to costly litigation. Counsel preserved multiple pathways — negotiated resolution, targeted disclosure and enforcement proceedings — while emphasising cost-effectiveness and practical risk management.

Next Steps

Obtain and review the original lease, the reversionary lease and any subletting documents; request company records and accounts from incorporation; ask the landlord to confirm whether any consent was granted; consider targeted pre-action information requests to the trading entity and the co-leaseholder; and decide on negotiation or formal proceedings once documentary review is complete.