The coronavirus pandemic has exerted considerable pressure on the commercial property sector. Recent figures suggest that non-food retailers have experienced an averaged 70% fall in revenue and around 1 in 10 retailers are anticipated to experience liquidity issues within four months of the 23rd March. Notwithstanding the Government’s attempts to ease the lockdown, there is likely to continue to be a prolonged period of uncertainty during which we can anticipate issues arising in relation to the termination of commercial leases.
3PB’s Gavin Hamilton and Robert Weatherley will be holding an online seminar focusing on the various mechanisms by which commercial leases might be determined. The purpose of the seminar is to engage with the likely scenarios generated by the pandemic and in particular with the legal issues which might arise when a tenant becomes insolvent or seeks to escape their lease prematurely.
With a focus on the practical implications of the current crisis, Gavin Hamilton will present a discussion on break clauses, surrenders and force majeure and frustration. Robert Weatherley thereafter will lead the discussion on forfeiture, insolvency and disclaimers and the implications for guarantors.
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