The measures put in place by the government earlier this year to protect businesses against the threat of insolvency and those protecting directors against wrongful trading claims by a liquidator have been extended to 31 December 2020, to give companies...
Commercial rent arrears recovery legislation aims to overhaul the ways in which landlords of commercial properties can recover outstanding debts from their tenants.
The commercial rent arrears recovery legislation means that landlords must give their tenants seven days’ notice before taking action. The concern for landlords is that this gives tenants the opportunity to put their high value goods out of reach of the bailiffs.
A landlord can take the case to court, and request a shorter notice period, if they can present a viable case that the tenants are likely to remove their valuable assets from the property before the commercial rent arrears recovery is exercised.
Additionally, a tenant can challenge the commercial rent arrears recovery notice, and if they are successful, the landlord may be told that the recovery cannot take place without the permission of the court.