A Game of Cards: Do Security Bonds Trump Personal Guarantees in a Commercial Lease?
Posted by
Dean Claughton
on 25 Jun 2015
The best laid plans of mice and men can go astray. Before agreeing to act as guarantor for a tenant, make sure you know what you may personally be liable for if things don’t go according to plan. The decision from the New South Wales Supreme Court in Padstow Corporation Pty Ltd v Fleming (No 3) [2013] NSWSC 24 illustrates the position you could find yourself in if a tenant breaches their lease.