Further to our blog about measures announced by the Government to protect commercial tenants from “aggressive” rent collection strategies, the Government subsequently confirmed that the restrictions will apply (unless extended) from:
Hogan Lovells Publications | 06 May 2020
Five things retailers should consider in the COVID-19 era
Even in the halcyon days pre-coronavirus, a typical small business could not operate for more than two weeks without incoming revenue. In a matter of months, social distancing and mass unemployment having dramatically reduced consumer spending and companies are surviving by cutting energy usage, adjusting inventory purchases, and drawing on Paycheck Protection Program loans to backstop employee wages. Rent, however, is one expense that remains immutable.
The Coronavirus (Scotland) (No2) Bill was passed on 20 May, gained royal assent on 26 May and came into force 27 May. This will be known as The Coronavirus (Scotland) (No. 2) Act.
Why do we need another Act?
Good morning.
Please find our summaries of last week’s civil decision of the Court of Appeal for Ontario.
De maatregelen die genomen zijn ter bestrijding van het COVID-19 virus hebben de financiële positie van ondernemingen ernstig beïnvloed. Verschillende ondernemingen worden geconfronteerd met een daling in inkomsten en zullen wellicht niet langer in staat zijn om hun schulden af te betalen. Ondernemingen in financiële moeilijkheden worden zo gedwongen tot insolventie. In het Koninklijk Besluit nr.
On April 20, 2020, Massachusetts Governor Charlie Baker signed legislation suspending evictions of many residential and commercial tenants as well as halting the foreclosure of most residential properties. The new law, Chapter 65 of the Acts of 2020, “An Act providing for a Moratorium on Evictions and Foreclosures During the COVID-19 Emergency,” takes effect immediately and will remain in place until the earlier of August 18, 2020 or 45 days after Governor Baker lifts the Coronavirus Disease 2019 (COVID-19) emergency declaration.
A government press release issued on 23 April 2020 will be welcomed by commercial tenants up and down the country, particularly those in the retail and leisure industries, but it will not make such welcome reading for landlords.
In the current climate many commercial tenants are having a difficult time and consequently so too are landlords. The government has urged landlords and investors to work collaboratively with high street businesses which have found themselves unable to pay their rent during the COVID-19 pandemic.
The Bottom Line
In these unprecedented times there has been much discussion and focus in the property community of the effect of tenants unable to operate their businesses and the risks of widescale insolvencies.