We have previously reported on the provisions of the Corporate Insolvency and Governance Act 2020 which introduced various temporary insolvency measures in response to the coronavirus pandemic, designed to protect commercial tenants from action by their landlords in respect of rental arrears during the crisis.
These measures included a prohibition on presenting a winding-up petition based on a statutory demand, and a prohibition on presenting a winding-up petition or order based on any other definition of the debtor’s inability to pay its debts, unless coronavirus can be discounted as a reason for that inability. The measures were initially in place until 30 September 2020. These measures have now been extended to 31 December 2020. Various other measures within the Act have been extended to 30 March 2021.
For advice and guidance on any landlord and tenant matters, please email Fiona Hannaford or call her on 01803 403403.
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