In these extraordinary times, this is a fairly common scenario. A business experiences disruption caused by the economic impacts of industry and government responses to the declared Coronavirus (COVID-19) pandemic. It loses business, starts to run out of cash and will be unable to make the next rental payment. It approaches the landlord to request leniency, reduced rent, time to pay. Many businesses are in the same boat, so if the landlord evicts the tenant, will it be able to find another tenant? And if it does, what rent will the next tenant be able to afford? Maybe it’s best to work with the current tenant. And so negotiations begins. A Code has been developed and Regulations issued in relation to these types of situations.
If you are a landlord or tenant in relation to a “retail premises lease”, the Retail Leases Act 2003 (Vic) probably applies to your lease. Generally, the Act provides protections for tenants, some of which are fairly rugged, and it is important that you are aware of them. Summaries and extracts of some of the provisions of the Act are set out below.
Best SME Focused Business Law Firm – Australia (2016)
August 31, 2016
We are pleased to announce that Stumbles & Co was one of the law firms in the Asia-Pacific region that participated in the APAC Insider 2016 Legal Awards and was voted "Best SME Focused Business Law Firm – Australia".
Unfair Contract Terms - New Laws from 12 November 2016
August 31, 2016
From 12 November 2016, if it finds them to be “unfair”, a Court or Tribunal can invalidate contract provisions (“terms”) in “standard form contracts” which are entered into, renewed or varied on or after 12 November 2016.
After only a matter of months the CFO resigned from Just Jeans to take up a position with the competition, Cotton On. Just Jeans sued the CFO to stop her from joining Cotton On. Read on to see what happened and to find out how a Court approaches this type of matter.