08.04.2020 — Commercial lease and COVID-19 pandemic
The Russian state authorities adopted a number of restrictive measures aimed at preventing the spread of the COVID-19 pandemic. These measures significantly affected business activities, including commercial lease contracts. The partner of Sirota & Partners, Artem Sirota provided an analysis of these measures in his report made at the webinar arranged by the Legal Committee of the Russian-German Chamber of Commerce.
In his report Artem explained how parties should address a tenant’s business closure in the light of its ability to pay rent and how landlord can respond to a tenant’s default considering the landlord’s own responsibilities to pay maintenance costs and real estate taxes. Artem also highlighted the procedure and conditions for tenants to obtain deferral of rent in accordance with the latest legislative developments on this issue (Federal Law No. 98-FZ dated 01.04.2020 and Order of the Russian Government dated 03.04.2020 No. 439).
The information alert on the impact of the COVID-19 pandemic on the tenant’s obligation to pay rent under commercial lease agreements is available here.