Commercial landlords and tenants: The ban on forfeiture and CRAR extended
7 July 2021
Wilsons' Senior Partner, Peter Bourke, has been featured in the press commenting on the recent government decision to extend the ban on forfeiture and commercial rent arrears recovery (CRAR) to next March with insolvency restriction extended to September 30.
Peter is the Chairman of the Property Litigation Association's law reform committee consulting on how to lift the moratorium on CRAR and the decision to extend the ban was not what many lawyers on the committee were expecting.
The articles featured provide background into the decision, the views of lawyers on the committee and the impact this will have on commercial landlords and tenants.
"When lawyers were questioned as part of the survey, they were divided in their view of the best next steps — but there was a significant consensus that tenants needed time to pay. Understandably, tenants’ lawyers wanted longer time frames than landlords’ lawyers."
Read The Times article in full: Putting off a difficult decision on rent arrears has far-reaching consequences
"Most landlord and tenant lawyers agreed that more favourable measures should be targeted towards those who were fully closed during the pandemic and, to a lesser extent, towards those who could trade but on a restricted basis."
Read the EG article in full: Covid rents: not the answer we were looking for
