Tag Archives: covid-19

UK Business Extremes of Covid-19

The coronavirus (Covid-19) pandemic and the measures introduced by the UK government to halt the spread of the contagion have inflicted an unprecedented shock to the UK labour market. Social distancing and lockdown measures have resulted in many non-essential stores having to close temporarily and/or stop trading to minimise gatherings and the spread of the virus. The … Continue Reading

Bouncebackability – UK Government Unveils Latest Coronavirus Loan Scheme Variant For Smaller Businesses

In a statement to the House of Commons on 27 April 2020, the UK Chancellor of the Exchequer announced another loan scheme designed to support business to ‘bridge’ the economic disruption caused by the Covid-19 pandemic. Sitting alongside the CCFF, CLBILS and CBIL, the new scheme is targeted at the very smallest businesses that have … Continue Reading

UK Government proposes measures to curb “aggressive” rent collection strategies

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

Directors’ Duties – a Guide for Polish Businesses

This quick guide summarises the duties that directors of  Polish companies are subject to and how those duties change when the company is insolvent or at risk of being insolvent. It also gives an overview of the personal risk to directors when the company is in financial difficulty and suggests some practical tips to help … Continue Reading

Financial Assistance to US Business Enterprises, States and Municipalities

This alert on the Federal Reserve’s new $2.3tr lending program deserves special attention as this program will be of interest to every business operating in the U.S as well as to States, municipalities and potentially other public entities. It reports on guidance issued by the Federal Reserve on a new $2.3tr lending program (the first … Continue Reading

How could COVID-19 contaminate the financing arrangements of Australian businesses?

Australian businesses are facing unprecedented challenges as the consequences of the coronavirus disease 2019 (COVID-19) pandemic unfold. At this difficult time, it is critical to take measures to ensure that your business has sufficient working capital for at least three to six months and the risk of being required to repay or restructure your existing … Continue Reading

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

What EU financial measures are there to help support member states?

To assist in understanding what financial support packages the EU have announced  we have produced a helpful guide summarising those. This gives an overview of the package, the level of funding available, eligibility, how to apply and when it will be available. To access the most up to date guide click on this link.  This … Continue Reading

Accessing financial support – a guide for French businesses

To assist French businesses in understanding what financial support packages are now available we have produced a helpful guide summarising those. This gives an overview of the package, the level of funding available, eligibility, how to apply and when it will be available. To access the most up to date guide click on this link.  … Continue Reading