Issue 1 – January 2008

Goodbye to the Law of Distress; Hello to CRAR

The regulations for the new commercial rent arrears recovery scheme are, we are informed, nearly ready for final publication and it is now clear that, at some time during 2008, the common law right for a landlord to seize and sell its tenant’s goods to recover rent arrears will be abolished and replaced by a new modern statutory system.

We set out the details of the new scheme in our August 2007 briefing. If you missed this, it can be found on our website at www.mishcon.com/Real_Estate/CRAR.

For further information contact daniel.levy@mishcon.com