Company dissolved after not filing accounts

I am a director of a  flat management company which manages the flat I live in. I have just become aware that this compnay was disolved in feb 2009. The last set of accounts filed are up to june 2006.

This has come to my notice as someone is trying to sell their flat and can't as the company name is written into the lease. So effectively the lease is not valid as it stands

My question is what is the best / cheapest way to resolve the issue

1) apply for the company to be re-instated. What Late filing penanlties will this likely incur. Will there be late filing fees for years 2007 to 2011?

2) create a new company with the same name. Will this satisfy the Lease or will we need a deed of variation for each lease? It does not say the company number on the lease, just the name (there are nine flats/leases)

Thanks