COVID-19 Commercial Rent Arrears: UK Government Publishes Draft Arbitration Rules

Latham & Watkins LLP

The rules provide an arbitration procedure to determine the amount of affordable rent arrears for a commercial tenant where landlord and tenant have been unable to reach a consensual agreement.

On 9 November 2021, the UK government published the Commercial Rent (Coronavirus) Bill (the Bill), which will implement an arbitration process for determining the amount of rent arrears payable by commercial tenants affected by COVID-19 restrictions if landlords and tenants are unable to reach an agreement bilaterally. The Bill, which is subject to parliamentary passage, is expected to become law and enter into force on or prior to 25 March 2022, which is the date on which the current moratorium on forfeiture and restrictions on use of the commercial rent arrears recovery (CRAR) regime expire. The government also published a new accompanying Code of Practice, which takes effect immediately.

Please see full Alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Latham & Watkins LLP | Attorney Advertising

Written by:

Latham & Watkins LLP

Latham & Watkins LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.