What The Commercial Rent law means for tenants in arrears
This brief update has been prepared for tenants who find themselves in arrears as The Commercial Rent (Coronavirus) Bill (the “Bill”), currently making its way through Parliament, will change the current situation regarding pandemic arrears and the ban on certain landlord remedies.
Insurers ordered to pay out – An Important development in recognising insurance claims for small business losses caused by COVID-19
In March 2020, as a result of the emergence of COVID-19, a number of small businesses made claims through their insurance policy providers for loss of earnings. They relied on provisions within those policies that ostensibly covered events of business interruption. The insurers refused to pay for losses claimed on the basis that the policies didn’t cover the unprecedented restrictions arising from COVID-19.
Key issues for commercial tenants to consider when the landlord’s ability to forfeit a commercial tenancy for non-payment of rent is reinstated.