Russian Supreme Court Rules Lessor Could Not Withdraw Consent to Property Sublease
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The Russian Supreme Court has considered a significant issue for the commercial real estate lease market—whether the lessor may unilaterally withdraw its consent to sublease of property by the lessee.
The Supreme Court expressly ruled that the lessor’s consent to sublease of property by the lessee in the lease agreement may not be withdrawn by the lessor unilaterally.
The decision is expected to influence negotiation of lease agreements, and participants should provide greater detail on conditions to subleasing, form of consent and amendment of the relevant provisions.