COVID-19 CEE Legislation Tracker: Highlights from Calendar Week 26

22 June 2020 | newsletters

In this article we provide an overview of the most recent Covid-19 legal developments across CEE. We are constantly monitoring the laws for updates. For a detailed overview, please take a look at the comprehensive cee legislation trackers.

Find updates for:

 


Austria   

Banking & Finance and other support measures

  • 24/06: extension of statutory moratorium passes the Federal Council (passed in parliament on 18/06). The Judicial Committee had ascertained (09/06) previously that the extension is in line with the relevant EBA guidelines, preventing for credit-rates to be designated with forbearance status.  

For the full overview of the Austrian legislation, please see the Austrian legislation tracker.

 

Czech Republic 

Real Estate

26/06: Governmental support to tenants (operational programme "COVID – rent")

  • Tenants of commercial premises may ask the state to pay 50 % of the rent provided that they agree with the landlord on a 30 % rent discount. The tenant would, therefore, be obliged to pay only 20 % of the rent.
  • To draw the support the respective tenant must have been banned from selling goods and services in the establishment by extraordinary measures of the government against the spread of COVID-19.
  • The tenant must also have a lease agreement that was concluded before 12 March 2020, when the state of emergency was declared, and provide proof of payment of rent for January and February 2020.
  • This support will apply only to base (fix) rents and not to turnover rents.
  • Before the tenants get 50% refunded, they will have to pay to landlords first 100% of the rents for January and February and some other payments.
  • The "COVID – rent" support programme will not be available to tenants affiliated with the landlord, such as entities with the same beneficial owner and intragroup leases.
  • Tenants will not be able to simultaneously draw other support for rental expenses. Tenants will be able to draw the support for rent payable in April, May and June 2020 up to a maximum of CZK 10m (approx. EUR 365,000).
  • The total amount of approved support for all tenants is CZK 5bln (approx. EUR 182m).
  • The applications may be submitted electronically via www.mpo.cz starting from 26 June 2020.

For the full overview of the Czech legislation, please see the Czech legislation tracker.

 


Stay tuned: The latest developments will be reflected in next week's article.