Financial Challenges Crisis The ongoing health crisis has forced the government to take immediate action to alleviate the challenges facing businesses, including by offering simplified conditions for insolvency proceedings.
In times of crisis, it becomes necessary to initiate collective proceedings to deal with the inability of certain companies to meet various financial obligations, such as payment of suppliers or commercial rent.
Specific measures have also been put in place by the government regarding commercial rents. The ordinances of March 25, 2020 bring clarity: if no suspension of rent is provided for, the consequences of non-payment are limited.
Specific measures for commercial rents: –
Concretely, this provision guarantees that the tenants of commercial premises cannot be the subject of legal proceedings by the owners in the event of non-payment of rents during the period of crisis. This protection extends for up to two months after the lifting of the containment measures. It reassures tenants who are facing significant difficulties due to government-mandated closures.
Within the current legal framework urgently developed to respond to the health crisis, including facilitated insolvency proceedings and the temporary suspension of legal actions related to rents, concrete solutions are available to mitigate the challenges related to companies’ financial obligations.
We are at your service to negotiate with your landlord and establish a rent payment plan spread over several months. The increased risk of being placed in collective proceedings is an important element which should alert creditors.
In a spirit of solidarity in these difficult times, we offer you a first free telephone consultation , where we can give you valuable advice on the measures to be put in place to deal with your difficulties.
