Landlords and tenants have both had their own struggles with paying or recovering rent during the COVID-19 pandemic. Rent arrears accrued during 2020 as sectors, such as retail and hospitality, remained closed for a large part of the year and in an effort to support businesses get back on their feet, landlords were prohibited from … Continue Reading
As a result of the rapid spread of the Delta variant of COVID-19, the UK Government has announced a four-week delay to the easing of COVID-19 restrictions in England and the Step 3 restrictions will remain in place for now. The Government’s intention is that England will move to Step 4 (the lifting of all … Continue Reading
2021 remains challenging for many businesses, and uncertainties about the future make it imperative for UK businesses to identify and address potential risks to their business now. We have updated our Assessing Your Business Viability and Director Risk Guide to assist UK businesses with identifying those risk areas. Our guide covers cash flow considerations, financial … Continue Reading
Our latest updated guide setting out the financial support measures available to businesses across Europe and the Middle East is now available here. This updated guide includes includes changes from Germany, Italy, Czech Republic, Slovakia, and the UAE.… 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. This week’s updates include changes in Japan. Click here to see our updated guide.… Continue Reading
On 26 November 2020, The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Suspension of Liability for Wrongful Trading and Extension of the Relevant Period) Regulations 2020 (the “Regulations”) came into force. The Regulations have exactly the same impact as the suspension of liability for wrongful trading that was brought into force by the Corporate Insolvency … Continue Reading
The Government has issued what we might hope will be the final piece of the jigsaw on the latest extension to the Coronavirus Job Retention Scheme (CJRS) – the Treasury Direction (TD4). TD4 sets out the law that will govern the extension of the CJRS (at least until 31 January 2021) and formally withdraws the … Continue Reading
The biggest challenge for most UK businesses in the current environment is assessing viability. Will it survive another lockdown? Can it recover from the last? Each business is unique but there are common challenges to all. One of the most difficult challenges at the moment is ensuring that when making decisions about the business that … Continue Reading
Late on 10 November 2020, the UK Government published detailed guidance on the extension to the Coronavirus Job Retention Scheme (CJRS). As expected, the guidance largely reflects what was contained in the policy paper and is broadly the same as the last CJRS guidance. Our employment colleagues have produced an updated alert and quick guide … Continue Reading
As you will have seen in recent announcements, the government is now: Extending the Coronavirus Job Retention Scheme (CJRS) until 31 March 2021. Postponing the Job Support Scheme (JSS), possibly indefinitely. Scrapping the Job Retention Bonus (JRB), but this will apparently be replaced by another “retention incentive at the appropriate time”. Businesses that have spent … Continue Reading
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
On Friday, October 16, 2020 we hosted a webinar along with the American Bankruptcy Institute, that featured a distinguished panel of professionals, including former Speaker of the US House of Representatives John Boehner, former Congressman and Chairman of the Democratic Caucus Joseph Crowley, former Congressman Bill Shuster, former Secretary of Transportation Rodney Slater, Karol Denniston … Continue Reading
The Chancellor of the Exchequer, Rishi Sunak, delivered the government’s ‘Winter Economy Plan’ on Thursday, 24 September 2020. Set against a marked deterioration in data tracking the spread of coronavirus in the UK signalling a worsening of the health crisis, the statement was afforded heightened importance by the postponement of the Autumn Budget. Given the … 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
In a series of blogs, we will be reflecting on how the coronavirus disease 2019 (COVID-19) has affected local economies and businesses considering the impact of lockdown, how businesses have fared during the pandemic, whether support from the government has helped protect against business failure, which sectors have been hardest hit by the pandemic and … Continue Reading
Many local, national and global businesses with UK operations have been significantly impacted by the coronavirus (COVID-19) pandemic. Cash flows have been impacted, trade and supply chains disrupted and business and consumer confidence damaged. Many businesses are facing the same challenges at the same time. The key for businesses to resetting for the “new normal” … 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 produced a consolidated guide to … 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 and includes a traffic light system to show the current status of these measures. Click here to see our guide.… Continue Reading
We have updated our guide setting out the financial support measures available to companies with updates from: Germany Slovakia Click here to access the updated guide.… Continue Reading
We have updated our guide setting our the financial support measures available to companies with updates from: Czech Republic France Slovakia Spain UAE Italy 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 introduce a traffic light system to show the current status of these measures and to include further changes to … Continue Reading
We have updated our guide setting our the financial support measures available to companies with updates from: EU Germany Italy Poland UAE 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 introduce a traffic light system to show the current status of these measures and to include further changes to … Continue Reading
Our quick guide, “Preparing for the “New Normal” – Key Points for Australian Businesses to Consider” focuses on key issues for Australian businesses to consider in determining their viability as Australia continues to “unlock”. This guide considers a range of issues, including: Cash flow and financing Supply and demand Employee considerations Operational costs Directors’ duties … Continue Reading
