Isabel Marant UK Ltd v Berkeley Square Holdings Ltd.
Martin Dray has made two awards under the Commercial Rent (Coronavirus) Act 2022 in the matter of Isabel Marant UK Ltd v Berkeley Square Holdings Ltd.
The applicant tenant sought relief from payment of a £141,164.40 protected rent debt. It proposed that either (1) the whole debt be written off or (2) it be repaid by instalments over 2 years. The respondent landlord counter-proposed payment of the entire debt over 6 months.
The substantive award determines that the tenant should have to pay the debt in full but that it be given relief and allowed to repay it over 2 years.
The supplemental award confirms that the arbitration fee is to be shared equally between the parties to the arbitration.