An interesting article by one of our clients
Commercial Lease Debt:new Code of Practice and new Commercial Rent (Coronavirus) Bill
Further to our recent announcement concerning the eviction moratorium of commercial tenants being extended by the government until 25 March 2022, the government has now introduced a new Code of Practice which applies to all commercial leases held by businesses where rent arrears have built-up, due to an inability to pay during the COVID-19 pandemic.
The government has not just stopped there, they have also introduced a new Commercial Rent (Coronavirus) Bill which prohibits landlords from using any recovery methods, including a court judgement to recover protected rental arrears, other than by the means of arbitration.
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