COMMERCIAL LAW & ISLAMIC FINANCE
CORONAVIRUS & INSOLVENCIES
Last updated: 24 April 2020
What do the measures voiding statutory demands and winding up petitions mean for businesses? This article by Stuart Evans, Partner, Stephen Cook, Partner, and Leighton Baldwin, Associate at Berrymans Lace Mawer LLP (BLM) provides the answers. Read more...
COMMERCIAL LANDLORD & TENANT
Last Updated: 27 April 2020
Corona Virus and the Impact on Business Tenancy
Almost all commercial properties are affected by the outbreak of COVID 19, commonly known as Coronavirus. Retail business owners and tenants find themselves in a very difficult position that they have to keep their business closed (grocery, pharmacy and other essential businesses are exempted) during the Government imposed lockdown. They are worried about health and safety risks as Coronavirus is highly contagious. On the other hand landlords are facing rent arrears and a ban on enforcement against the forfeiture. These unprecedented circumstances created a lot of confusion in relation to the recent Government policy tackling the pandemic.
This article, by Mahadi Hassan, Partner at Vivash Brand LLP, aims to clarify the main concerns in brief. It looks at the following areas:
- Closing Business Premises
- Rent Suspension
- Turnover Rent Lease Agreements
- Protection from Forfeiture for Rent Nonpayment
- Business Rates
- Insurance
- Compliance with the Health & Safety Regulations
- Force Majeure, Illegality & Frustration
- Practical Tips
Useful Links
Business Support:
Guidance for employers and businesses on coronavirus:
businesses-about-covid-19/guidance-for-employers-and-businesses-on-coronavirus- covid-19
Financial support for businesses during coronaviru
s:
during-coronavirus-covid-19
Guidance for employees:
businesses-about-covid-19/covid-19-guidance-for-employees
Regulating occupational health and safety during the coronavirus outbreak: