The Government has confirmed the much anticipated extension of the moratorium on forfeiture until 30 September, extended the requirements for CRAR, and extended the temporary prohibition on statutory demands also until 30 September.
This is of huge importance to all commercial landlords and tenants in advance of the June Quarter Day as it will continue to limit options for enforcing a tenant's lease obligations.
In addition, the voluntary Code of Practice has been released, which will be of interest to all landlords and tenants, although the impact is likely to be limited given that it is voluntary. It is essentially largely concerned with encouraging parties to be transparent, and to act in good faith, and to act reasonably and flexibly in their discussions, in order to reach alternative agreements. Many landlords and tenants are sensibly already doing that, and the introduction of guidance is unlikely to alter this.
Government provides further halt to business evictions and more support for high street firms. New code provides support to shops and local firms planning their future recovery with their landlord.