Jun 22

Government Extends Time for Forfeiture of Business Leases

Posted by gowenstevensadmin on Monday 22nd June 2020

the time period for suspension of the forfeiture of business Leases from 30 June to 30 September.

The Government has also extended the suspension period in relation to Commercial Rent Arrears Recovery ("CRAR"). The time period has been extended to 30 September. CRAR cannot be used in this period unless the Landlord is owed 189 days or more of unpaid rent. The advice from the Government is to encourage Tenants to continue to pay their rent in full if they can do so. If Tenants cannot pay the full amount then the advice is that they should pay what they can. Landlords are also being encouraged to provide support to their Tenants if they are able to do so. A voluntary Code of Practice for Commercial Property Relationships during the COVID-19 Pandemic has also been issued by the Government.

The temporary ban on the use of Statutory Demands and Winding Up Petitions where a company cannot pay its bills due to Coronavirus is also to be extended until 30 September.

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