Tag Archives: covid-19

What do the statistics say about the impact of Covid-19 on UK businesses?

As the UK enters its fourth week in lockdown, the financial impact of the coronavirus (COVID-19) has begun to materialise for many businesses. To support individuals and businesses moving forward and to assist them in producing contingency plans, the Office for National Statistics, one of UK’s largest independent producer of official statistics, has provided a … Continue Reading

Updated Guide: How to access European Governments’ financial support packages

Last week we launched our European Government Financial Support guide setting 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 Belgium, Czech Republic, Germany, Italy, Poland and Slovakia. To access the updated guide – click here.… Continue Reading

Q&A: Regulatory requirements for UK Insolvency Practitioners during COVID-19

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

Q&A: How should UK Insolvency Practitioners deal with active cases during COVID-19?

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

Webinar Recording: Tools to Navigate the Financial Crisis Related to COVID-19

Today, April 6, the American Bankruptcy Institute (ABI) hosted a free webinar featuring a distinguished panel of Squire Patton Boggs and FTI Consulting professionals, including former House Speaker John A. Boehner. More than 600 attendees tuned in to hear these experts decipher the most recent federal stabilization programs and developments and provide unique and practical … Continue Reading

Who’s looking out for Private Equity Limited in the UK?

The past couple of weeks have seen the UK Government announce a volley of financial support packages for businesses.  The two direct support programmes that have already launched, the Covid Corporate Financing Facility (CCFF) and the Coronavirus Business Interruption Loan Scheme (CBILS) have met with some criticism, notably that CBILS support is not reaching enough … Continue Reading

Job Retention Scheme- Important Updates for UK Insolvency Practitioners

On Saturday 4 April, HMRC issued further guidance on the Job Retention Scheme (“JRS”). Given the unprecedented economic backdrop against which the JRS is being introduced, the exact workings of it are still being developed and clarified, with each announcement in turn giving rise to further questions for employers and employees. We have produced a … Continue Reading

Changes to the UK Government financial measures mean more small and mid-tier businesses can benefit

In our previous blog we reported on the lack of funding that the UK Government financial support measures provided to mid-tier businesses – leaving many unable to benefit from much needed funding to help with cash flow and liquidity issues. Many smaller businesses were also unable to qualify for support. Today the Chancellor has announced changes … Continue Reading

COVID-19 Poses Acute Boardroom Dilemmas

COVID-19 poses many acute dilemmas for boardrooms. Directors and executives need to make highly sensitive decisions to navigate through the COVID-19 crisis. Decisions taken now could come under scrutiny and potentially give rise to future litigation and regulatory intervention, so directors should be mindful of their duties and consider how their decisions may look in … Continue Reading

Managing Fiduciary Duties In The Time Of COVID-19

In light of the disruption caused by the COVID-19 pandemic and resulting global economic slowdown, many companies—even previously healthy ones—are now faced with difficult decisions regarding investments, loans, employees, and myriad other matters in order to ensure their survival. It is in these times that directors must be especially aware of and abide by their … Continue Reading

Licensees And Licensors Need To Prepare For Potential Bankruptcies Caused By COVID-19

We are in unprecedented times. The current COVID-19 pandemic will not only have an impact on the physical health of our country, but the economic health of our country as well. Increased bankruptcy filings are a virtually certainty and this raises concerns of many, including licensors and licensees of intellectual property. What should these parties … Continue Reading