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Welcome news for commercial tenants but not for landlords

Michael Smeaton

The moratorium on evictions for tenants who are behind on their rent has been extended until the end of 2020. The restriction was set to be lifted on the 30 September but the secretary of state for housing, Robert Jenrick, announced an extension to give struggling retailers and other businesses a chance to “focus on rebuilding their business over the autumn and Christmas period”.

The June quarter day saw less than 20% rental payments made and with the next rent quarter day imminent (29th September) landlords will be bracing themselves for more of the same.

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Business interruption claims and COVID-19: Good news for SME’s

Andrew Koffman

The High Court judgment, on Tuesday 15th September 2020, in the test case between the Financial Conduct Authority (FCA), on behalf of a number of policyholders, and various insurance companies over business interruption and COVID-19 has been hailed as a lifeline for SMEs.

Many SMEs will be very relieved at the result.  The FCA estimated that 370,000 businesses could be affected by the test case; however not all will have been successful.

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Forfeiture of Commercial Leases

Andrew Koffman

Landlords cannot at present evict their tenants due to rent arrears, as one of a number of Government measures introduced to ease the burden on businesses due to the Coronavirus.  Tenants will have welcomed this measure; their landlords almost certainly less so.

It makes no difference if the rent arrears pre-date the pandemic.

There are parallel – though slightly different – restrictions on landlords of residential properties.  In this article we focus primarily on commercial leases, where there is a prohibition on landlords taking any repossession action through the courts, currently until 30 September.

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Don’t Let Your Debtors Lock You Down!

Andrew Koffman

Reviewing and implementing your credit control procedures

COVID-19 and the resulting lockdown are having a huge impact on the cashflow of most businesses.  25% of UK businesses have temporarily closed down; 38% of businesses still in operation have reported substantially lower turnover; and 36% of firms have 3 months or less of cash reserves left.

Inevitably this pressure on businesses is set to continue but there is also an opportunity for SMEs to improve your cash position by good housekeeping.  The Government is encouraging a culture of forbearance between businesses at present but this should not require you to take an excessively lenient approach to recovering debts that are rightfully due.

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Will I get my costs back? Update

andrew-koffman

Andrew Koffman

We shared this article in February 2017 and then this article in July 2017, which explained the current rules on recovery of costs by the winner of a court action from the loser. It had been proposed to introduce a “fixed recoverable costs” regime for business and other civil disputes, similar to the one for minor personal injury claims.

Two years on, what if anything has changed?

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Unsafe cladding concerns for apartment leaseholders and freeholders

Andrew Koffman

Andrew Koffman

The Grenfell Tower fire in 2017 left 72 people dead, many injured and hundreds homeless and shone a spotlight on the construction of high-rise apartments. It was quickly concluded that the Aluminium Composite Material (ACM), that was used to clad the building, was the reason why the fire spread so rapidly and extensively.

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Will I get my costs back? Update

andrew-koffman

Andrew Koffman

In February 2017 we shared this article and in July 2017 we shared this article, which explained the current rules on recovery of costs by the winner of a court action from the loser. It had been proposed to introduce a “fixed recoverable costs” regime for business and other civil disputes, similar to the one for minor personal injury claims.

Two years on, what if anything has changed?

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Protect your home from the fraudsters

andrew-koffmanOur lives are moving more online and sadly this has resulted in a rise in financial scams. A recent poll of over 2000 individuals by YouGov and Lloyds Bank found 10% of them had been the victim of a financial scam. Property transactions are particularly vulnerable, with high values involved and often time is of the essence. There are numerous cases where solicitors and sellers have been duped into sending the sales proceeds to fraudsters, or buyers have paid the purchase money to someone who was not the real owner.

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