GE Image Gallery 133

Publication: COVID-19: Legal Resources

We appreciate that this is a difficult time for everybody, as we are all required to adapt and change the way we do things as we respond to COVID-19. To help you, your families, and your businesses, we have prepared some general guidance on matters that may be of concern to you.

We are working remotely from our homes and remain available to assist you. All of our staff are on line and able to take your calls, emails and meet with you online.

Glaister Ennor is pleased to announce the launch of a new expert determination service to assist landlords and tenants determine the “fair proportion” of rent and outgoings for abatement during COVID-19 Alert Levels 3 and 4.  Read more here.

 

  • Legislative Update: Remote Body Corporate Meetings

    21 May 2020

    The COVID-19 Response (Further Management Measures) Act 2020 came into force on 16 May 2020 (apart from parts relating to the IRD).Schedule 12 amends section 88 of the Unit Titles Act 2010 in respect of body corporate meetings by inserting three additional subsections. The key provision is that: “Members of a body corporate may attend a general meeting (and members of a body corporate committee may attend a committee meeting) in person, by audio link, or by audiovisual link” despite ...

  • Market Rent Reviews and Ratchet Clauses in Commercial Leases

    19 May 2020

    Ratchet clauses have been a feature of leases for a very long time. They provide landlords with certainty of a minimum level of income. The value of a property is closely related to the return that a landlord derives from the market rental and the contract rental for the property. The existence of a ratchet clause accordingly adds value to a property.What is a Ratchet Clause?Many commercial leases include rent review clauses, which set out how the annual rent is ...

  • Business Debt Hibernation: is it the answer?

    12 May 2020

    The Business Debt Hibernation Scheme (BDH) that was announced by Government on 3 April 2020 is expected to become law later this month when Parliament passed the COVID-19 Response (Further Management Measures) Legislation Bill (Bill). See our earlier commentary here.The BHD scheme will effectively allow companies and other entities whose business has been affected by COVID-19 to “hibernate” their debt for up to 7 months. It will be available to companies and other entities that were able to pay their ...

  • Rapid Rental Determinations

    28 April 2020

    What is fair abatement of rental under clause 27.5 of the ADLS deed of lease (6th Edition 2012)?Clause 27.5 of the ADLS 6th Edition deed of lease entitles the tenant to an abatement of a fair proportion of the rent and outgoings in the event that the tenant cannot access the premises to fully conduct their business. This provision is triggered by and applies during COVID-19 Alert Levels 3 and 4.The facts and circumstances of each lease, each landlord, and ...

  • Commercial Leases at COVID-19 Alert Level 3

    22 April 2020

    For two days before New Zealand entered Alert Level 4 of the COVID-19 Alert System at 11.59pm on 25 March 2020, the country had a brief glimpse of what life in Alert Level 3 looked like. Understandably, much of the focus was on the impact of Alert Level 4 restrictions and what this meant for individuals and businesses around the country.The Government has now announced that the country will move to Alert Level 3 at 11.59pm on 27 April 2020, ...

  • Business Debt Hibernation Scheme and Changes to Directors’ Duties

    8 April 2020

    New measures to address the economic impact of COVID-19 were announced by the Government on 3 April 2020. The finer details of those measures will be fleshed out in legislation to be passed with urgency as soon as Parliament resumes. We are already working with businesses to understand the Business Debt Hibernation Scheme (BDH Scheme) and changes to directors’ duties.Business Debt Hibernation SchemeThe Business Debt Hibernation Scheme creates a moratorium on creditors taking action to recover debts owed to them ...