Until now landlords have benefited from a legal remedy not available to other creditors: distress.
This remedy will be abolished entirely from 6 April 2014 and will be replaced by an apparently similar but more tenant-friendly remedy of 'Commercial Rent Arrears Recovery' (CRAR).
Paul Greatholder, partner in the contentious property team, and Peter Dawson, partner and head of commercial property group, discuss the essential points under the new law.
This article was first published in Solicitors Journal.
Commercial rent arrears - Solicitors Journal - 20 Feb 2014.pdf