Reed Smith News Flashes

The Commercial Rent (Coronavirus) Act 2022 provided tenants in the retail and leisure sectors who had subsisting rent arrears incurred between March 2020 and August 2021 with immunity against enforcement action from landlords. However, that immunity was only for a period of 6 months from March 2022. During that window, either landlord or tenant were able to refer the matter to arbitration if they did not come to a commercial settlement.

The final date for arbitration referrals was 23 September 2022.

As of 26 September, ‘business as usual’ has resumed and, if a referral has not been made, landlords are able to take action against those previously protected tenants, including court proceedings, forfeiture, CRAR and insolvency proceedings.

Newsflash 2022-232