Real Estate Talking Points: Remedies and ringfencing: the start of the next chapter for commercial landlords and tenants
After two long and difficult years for landlords and tenants, new legislation has finally been introduced which is intended to resolve any remaining impasse between landlords and tenants over arrears which accrued during the pandemic. Classification of the relevant arrears in the correct way will be vital – in other words, are they within the new “ring-fence” or not? – as that will determine the remedies and next steps available for commercial landlords and tenants.
In our latest talking points article, Hannah Day outlines the impact of the landlord and tenant ring-fencing regime, the remedies which have now become available to landlords for arrears which are outside the ring-fence and the latest position regarding business interruption insurance.