News & Views

Covid-19 Update – Did You Know?
May 11, 2020

Covid-19 Update – Did You Know?

Written by the FIJ Team

The Law Society of Ontario has mandated the efficient continuance of the practice of law via electronic methods such as video conferencing and electronic signatures.

Client identification and verification may be completed effectively by video conference. The requirement of being physically present with a lawyer or in each other's presence now extends to video conferencing, on a platform that is available to you.

As such, FIJ continues to close real estate, corporate and commercial transactions by accepting electronic signatures on closing documents and working diligently to ensure that there are no interruptions to your transactions.

We are aware that fraud has become more prevalent and are taking precautions to protect you and your assets. In this regard, we are meticulously following the practice guidelines outlined by the Law Society of Ontario and remain at all times compliant with our professional standards.

If you have any questions, please feel to reach out to Leslie Fluxgold directly at [email protected] or at 905 763 3770 x 210 for further information.

The material provided in this article is for general information purposes only. It is not intended to provide legal advice or opinions of any kind.


About the Author:

Leslie Fluxgold is a respected advisor to the business community, with a focus on commercial real estate and commercial lending. Having served as counsel for the Ministry of Municipal Affairs and Housing, practiced privately for over 20 years and having spent over 15 years acting for many of Canada's leading commercial lenders, Les has the expertise and hands-on experience to guide clients through complicated real estate matters and commercial loan transactions. He identifies their objectives, assesses their options and gets them to the finish line.

Canada Emergency Commercial Rent Assistance (CECRA)
May 01, 2020

Canada Emergency Commercial Rent Assistance (CECRA)

Written by the Leslie Fluxgold

Last week, the Prime Minister announced the Canada Emergency Commercial Rent Assistance (CECRA). This program will lower rent by 75 per cent for small businesses that have been affected by COVID-19.

  1. The program will provide forgivable loans to qualifying commercial property owners to cover 50 per cent of April, May and June monthly rent.
  2. The loans will be forgiven if the mortgaged property owner agrees to reduce the eligible small business tenants’ rent by at least 75 per cent for the 3 corresponding months under a rent forgiveness agreement.

Additional Quick Facts:

  • (a) It is expected that CECRA will be operational by mid-May, for rent in the months of April and May, retroactively, and for June.
  • (b) Further details on CECRA will be shared once final terms and conditions are available.
  • (c) Under a rent forgiveness agreement, the mortgaged commercial property owner would reduce the small business tenant’s monthly rent by at least 75 per cent. The tenant would be responsible for covering 25 per cent, the property owner 25 per cent, while the federal government and provinces would share the remaining 50 per cent.
  • (d) The forgivable loans would be disbursed directly to the mortgage lender.

At this time, its not clear if rent includes base rent and additional rent. In addition, Landlords must cover 25% of the three monthly rent payments. If a Tenant is already paying 75% or more of the rent, the program may not work for you.

Please contact Leslie Fluxgold directly at [email protected] or at 905 763 3770 x 210 for further information.

The material provided in this article is for general information purposes only. It is not intended to provide legal advice or opinions of any kind.


About the Author:

Leslie Fluxgold is a respected advisor to the business community, with a focus on commercial real estate and commercial lending. Having served as counsel for the Ministry of Municipal Affairs and Housing, practiced privately for over 20 years and having spent over 15 years acting for many of Canada's leading commercial lenders, Les has the expertise and hands-on experience to guide clients through complicated real estate matters and commercial loan transactions. He identifies their objectives, assesses their options and gets them to the finish line.