Have Australian Law Questions? Ask a Lawyer Now.
My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advice but a guide to assist you.
You cannot get out of the lease unless the landlord will let you out of it.
Have you spoken to him? If not this is the best way to approach it.
You can breach the lease and then when he tries to sue you for the money then declare bankruptcy.
You can also try and sell the business to another person and the lease will be transferred to them.
But declaring bankruptcy now without him suing you and knowing what is owed is not going to assist you. You have to know what the amount owing is before you can declare bankruptcy.
I hope this makes sense and is of assistance. If there is nothing further
thank you for using my services.
If I have missed anything, or you have any further questions please let me know
If there is anything else in the future please do not hesitate to ask.
Please do not forget to leave positive feedback.
I am just following up my last post. Is there anything else I can assist you with?