Investors in Enforcement Agents 
Further to the news that the extension for Commercial Forfeiture is going to be extended again until 25th March 2022 we can confirm that the CEAA will not be challenging the moratorium but will be pushing for a commitment to early resolution and re-engagement, along with clear legislation on how the industry will be allowed to resume. 
It would seem that the government expects landlords to share the burden of unpaid rent with the tenants and ring fence the debt accrued during the pandemic, thus the ban being put in place until new rules come into force. This will include an arbitration process; where if terms cannot be agreed between landlord and tenant and the outcome of arbitration will become legally binding. 
Exactly what these new rules will be they are not saying at present. Whilst this moratorium suggests that the extension to the ban on CRAR, statutory demands and winding up petitions is also to be extended we have heard that this may only be until October 2021 but have yet to have confirmation on this matter. 
We recognise that this is despite all the positive work and feedback the members and the board at CEAA and Enforcement Agents in general have been doing including the feedback on the call for evidence on the matter, the outcome of which will be published in due course. 
We fully appreciate the devastating blow this will have on many enforcement businesses, and we will continue to push for more support for those effected and raise the issue with the MOJ in our next meeting. In doing so we will also outline the effect this will have on Landlords etc. 
To read the Government press release, please click here 
Please feel free to contact us if you have any questions or if you feel there is anything more we could assist you with through these difficult times. 
Tagged as: Coronavirus
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