Extension to Restrictions on Winding Up Petitions
On 16 June 2021, the Government have announced that restrictions on statutory demands and winding up petitions will remain for a further three months until 30 September 2021 to protect companies from creditor enforcement action where their debts relate to the pandemic.
Restriction on Commercial Evictions
The Government have also announced an extension to the current restrictions on commercial evictions until 25 March 2022.
The intention behind the extension is to allow tenants and landlords to try and reach acceptable repayment plans on rent arrears and if an agreement cannot be reached then arbitration should be approached.
The extension applies to all businesses; however the new measures that will be introduced will only apply to those businesses that have been impacted by closures.
Therefore any rent debt that was accumulated before March 2020, and after the date when the relevant restrictions on trading are lifted, will be enforceable by landlords as soon as those protection measures cease.
If you would like a free meeting to discuss your company or any other insolvency related issues, please contact us on 01326 340579 or email at email@example.com