The Commercial Rent (Coronavirus) Act 2022 passed into law on Thursday 24th March 2022. The Act imposes a mandatory arbitration for rent claims where the tenancy was adversely affected by Coronavirus from March 2020 to July 2021. Business Minister Paul Scully said on Thursday:
“This new law will give commercial tenants and landlords the ability to draw a line under the uncertainty caused by the pandemic so they can plan ahead and return to normality”
However, the process itself involves entirely novel concepts. Clients will need to know where they stand. Members of the Kings Chambers B&P Team have been closely following the genesis of the Act and have already been advising landlords and tenants.
B&P Team Chief Clerk Gary Young says “We have highly experienced landlord and tenant barristers here ready to help. Some of the issues are closely linked to insolvency concepts and we have a vast experience to draw on there too. We also expect Kings barristers to be acting as arbitrators”.
For any queries contact Harry [email protected] or on 0161 819 8803
