Prevent action against Personal Guarantors for Business guarantees during Covid

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Prevent action against Personal Guarantors for Business guarantees during Covid

Petition Details

The UK Government formed the coronavirus act 2020 to protect businesses from being closed down, including winding up orders and terminations of commercial leases. I am asking the Government to now include all personal Guarantors to have the same protection.

Additional Information

For example, a landlord cannot terminate your lease, or close your company down - but instead the landlord or bank can still go an enforce personal Guarantees to pay the debts and make them bankrupt, using statutory demands. So you lose your business because of Covid 19 and then the landlord can take your personal assets and make you homeless... The Government needs to add this further protection to stop landlords/banks from using this forgotten loophole

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