The UK government attempted to ease the financial strain of the
COVID-19 pandemic with, among other things, rent
"holidays" for tenants and the opportunities for loans
for certain businesses. While some businesses were able to avail
themselves of such measures, not all were eligible or able to
utilise such schemes. It seems that commercial landlords have been
one of the sectors that have been hit hard, especially with some
commercial tenants not surviving the downturn.
Jersey structures are often used to acquire and hold interests
in UK real estate, including shopping centres. Often "part and
parcel" of such acquisitions is third-party bank financing,
with such loans requiring servicing and requisite financial
covenants to be met.
