A pub at the centre of a £500,000 drugs bust was being operated by an illegally-assigned tenant without landlord Wellington Pub Company's knowledge.
The Prince Regent, Tiverton, Devon, was let to Trevor Hulston in 1989 and the lease was to expire in 2019.
Criterion Asset Management, which manages Wellington's estate, said that the lease was re-assigned "sometime in 2008", without the "freeholder's knowledge or consent".
Devon and Cornwall Police seized 13kg of cocaine, worth around £500,000, from the Prince Regent in May.
The pub was being managed by Gordon Ogilvy, who was subsequently jailed for five years, for laundering £300,000 cash for an international drugs operation.
Criterion said: "Since 29 May 2009 when Wellington became aware of the illegal activities of those occupying the property, Wellington, along with its solicitors, has been in discussions with the legal tenants, the licensing authority and the police licensing officer to regain the Premises Licence to enable the property to re-open at the earliest opportunity now that the illegal occupiers have left.
"Wellington and Criterion condemn any unlicensed and illegal activities that can be perpetrated from the properties they own and manage and are co-operating with all involved authorities in order to prevent this recurring."
The Morning Advertiser has been unable to contact Hulston, who has no connection with the drugs at the pub, for comment.