Following then Government announcement regarding further support for businesses during COVID-19, our employment colleagues have produced a quick guide outlining the key features of the Job Support Scheme (Open and Closed) and the Job Retention Bonus Scheme.… Continue Reading
Earlier in the year, we published a blog regarding the impact of the moratorium introduced by the Corporate Insolvency and Governance Act 2020. In particular, we flagged that the moratorium may result in a significant loss of control for secured lenders and qualified floating charge holders (QFCH). In a recent case, Re Tokenhouse VB Limited … Continue Reading
On Tuesday 22 September, we hosted our Resetting Retail: Response to COVID-19 event. Our panel of experts, comprising Matthew Lewis, Head of Retail; Richard Lim, Chief Executive, Retail Economics; Paula Laird, Financial Services partner; and John Alderton, Restructuring & Insolvency partner, explored the viability, sustainability and recovery of UK retail as we head towards the … Continue Reading
We have updated our guide setting our the financial support measures available to companies with updates from Germany, Slovakia and France. Click here to access the updated guide.… Continue Reading
Our guide sets out how different jurisdictions are changing their Insolvency Laws to help alleviate additional pressures placed on businesses as a consequence of cash flow pressures caused by COVID-19. We have updated our guide to include further changes to insolvency laws in Germany and Japan. Click here to see our guide.… Continue Reading
The Corporate Insolvency and Governance Bill (the “Bill”) was published on 20 May 2020 and introduced a new debtor-in-possession moratorium to give companies breathing space in order to try to rescue the company as a going concern. The Bill went through the House of Commons on 3 June and passed through the House of Lords … Continue Reading
We have updated our European & Middle Eastern Government Financial Support guide, which sets out what financial support businesses in different jurisdictions could access to help manage financial distress caused by Covid-19. We have updated this with new details for the Czech Republic, France, Italy, Germany, UK and EU. To access the updated guide – … Continue Reading
As set out in the first blog in this series, the Corporate Insolvency and Governance Bill (the “Bill”) introduces a new debtor-in-possession moratorium to give companies breathing space in order to try to rescue the company as a going concern. The first blog outlined how the moratorium will work and the second blog focused on … Continue Reading
As set out in the first blog in this series, the Corporate Insolvency and Governance Bill (the “Bill”) introduces a new debtor-in-possession moratorium to give companies breathing space in order to try to rescue the company as a going concern. The first blog outlined how the moratorium will work. This blog will focus on the … Continue Reading
As different countries respond in different ways to meet the challenges placed on businesses and the economy. Our guide sets out how different jurisdictions are changing their Insolvency Laws to help alleviate additional pressures placed on businesses as a consequence of cash flow pressures caused by COVID-19. We have updated our guide to include further … Continue Reading
We have updated our European & Middle Eastern Government Financial Support guide, which sets out what financial support businesses in different jurisdictions could access to help manage financial distress caused by Covid-19. We have updated this with new details for the Czech Republic, Italy, Spain, UK and Qatar. To access the updated guide – click … Continue Reading
Different countries frame the exact description of the role of directors of a company in different terms. One feature is common to all – the obligation not to continue trading if a company is insolvent. Again, the detailed implications of doing so vary from one jurisdiction to another. We have updated our consolidated guide to … Continue Reading
On 20 May 2020, the UK Government introduced the Corporate Insolvency and Governance Bill (the “Bill”) to the House of Commons. The Bill introduces a new debtor-in-possession moratorium to give companies breathing space in order to try to rescue the company as a going concern. The Bill is currently only in draft form and therefore … Continue Reading
On 10 May 2020, Prime Minister Boris Johnson informed businesses in England that, as part of the Government’s three-phase strategy for lifting the Coronavirus lockdown, employees that cannot work from home can, and should return to work from Wednesday 13 May 2020. This note from our Data Privacy and Cybersecurity team aims to provide practical … Continue Reading
As different countries respond in different ways to meet the challenges placed on businesses and the economy. Our guide sets out how different jurisdictions are changing their Insolvency Laws to help alleviate additional pressures placed on businesses as a consequence of cash flow pressures caused by COVID-19. We have updated our guide to include further changes … Continue Reading
We have updated our European & Middle Eastern Government Financial Support guide, which sets out what financial support businesses in different jurisdictions could access to help manage financial distress caused by Covid-19. We have updated this with new details for the Czech Republic, Belgium, Germany, Italy, Poland, Saudi Arabia, Slovakia and France. To access the … Continue Reading
As different countries respond in different ways to meet the challenges placed on businesses and the economy. Our guide sets out how different jurisdictions are changing their Insolvency Laws to help alleviate additional pressures placed on businesses as a consequence of cash flow pressures caused by COVID-19. We have updated our guide to include further … Continue Reading
Our employment colleagues have produced this helpful alert setting out the headline points of what unlocking a UK company means for UK employers.… Continue Reading
It is not entirely clear how the UK Coronavirus Job Retention Scheme operates in line with current UK insolvency legislation, although it is clear that administrators can use the scheme and furlough employees. We have produced an alert that answers some of the key questions for administrators looking at whether employees should be furloughed or … Continue Reading
Organisations need to understand how they can prepare ahead of the UK government preparing to bring the country out of lockdown, while not necessarily knowing the timescales or details of how restrictions will be lifted, or in what order. We have prepared a quick guide to help UK businesses start to think about some of … Continue Reading
Further to our blog about measures announced by the Government to protect commercial tenants from “aggressive” rent collection strategies, the Government subsequently confirmed that the restrictions will apply (unless extended) from: 27 April 2020 to 30 June 2020 for presentation of winding-up petitions; and 1 March 2020 to 30 June 2020 for statutory demands. However, … Continue Reading
At the end of March, the Government introduced measures providing a moratorium on evictions for commercial tenants for non-payment of rent until 30 June 2020. Although landlords were unable to evict tenants, there was no automatic rent holiday and tenants still remained liable to pay rent, which prompted many commercial discussions between landlords and tenants … Continue Reading
COVID-19 is placing unprecedented strain on all businesses, and insolvency practitioner (“IP”) practices are no exception. Government-imposed restrictions on activities and movement will have a direct impact on the ability to carry on business as usual. There may be fewer employees available (through illness, self-isolation and furloughing), strain placed on remote working capabilities and a … Continue Reading
COVID-19 and Government-imposed restrictions are placing an unprecedented strain on everyone and businesses and individuals may be facing extreme financial pressure. COVID-19 is impacting businesses throughout the supply chain in most, if not all, sectors. This may mean that clients and debtors are unable to meet their obligations and there may need to be changes … Continue Reading