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Covid-19; Advice for Commercial Landlords (Further Update)
Law can be fast changing, even more so in these challenging times. As the Government continues to respond to Covid 19, further new legislation is being introduced.
The Government has announced further emergency measures to protect commercial tenants from certain enforcement action. It is intended to restrict commercial landlord’s ability to issue statutory demand and winding up petitions, by temporarily voiding them.
The pending legislation, to be named the “Corporate Insolvency and Governance Bill” will implement this. The Government is yet to announce the mechanism with the legislation waited to provide answers to numerous queries such as how this will work in practise and what will the impact be on procedures already started?
The Taking Control of Goods and Certification of Enforcement Agents (Amendment) (Coronavirus) Regulations 2020, has now come into effect imposing further temporary restrictions on enforcement by commercial landlords.
The minimum amount of rent arrears has been increased to 90 days before commercial rent arrears recovery can take place.
Judge and Priestley are continuing to monitor the situation. With the June quarter date on the horizon and no sign of the lockdown ending, it is perhaps likely that future legislation will be introduced. With the legal position changing rapidly, commercial landlords who find themselves in this situation are recommended to contact the Property Litigation Team to ensure that their positon remains protected.
This article was written by David Bowers, an Associate Solicitor in our Property Litigation team. Should you have any queries relating to any dispute arising from your commercial property, please feel free to contact him at firstname.lastname@example.org or contact us here.