Tag Archives: insolvency

Walking the Tightrope of Wrongful Trading: Temporary “Suspension” of Liability in the UK Corporate Insolvency and Governance Bill

On 20 May 2020, the UK Government introduced the Corporate Insolvency and Governance Bill (the “Bill”)  to the House of Commons. The aim of the Bill was temporarily to amend corporate insolvency laws to give companies the best possible chance of weathering the storm of the COVID-19 pandemic. One of the significant measures can be … Continue Reading

UPDATED Global Insolvency Report: Impact of Covid-19 on Insolvency Laws

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

UPDATED: How to Access European and Middle Eastern Governments’ Financial Support Packages

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

German Federal Government Announce Start-Up Financing Program

The German Federal Government has launched a series of assistance packages of measures for business against the consequences of the COVID-19 pandemic. In particular, the German Government is of the opinion that start-ups and young technology companies are particularly important for the German economy. See our alert for further details about the new measures.… Continue Reading

UPDATED: How to Access European and Middle Eastern Governments’ Financial Support Packages

We have updated our European 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, EU, France, Germany, Italy, Spain, UK and UEA. To access the updated guide – click … Continue Reading

UPDATED Global Insolvency Report: Impact of Covid-19 on Insolvency Laws

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

UK: Managing Distressed Customer Relationships

What should you do if another business (i.e. a supplier, customer or other contract counterparty) is suffering distress and may be considering filing for insolvency? This alert provides several “do’s” and “don’ts” to consider before and after insolvency and advises taking a proactive approach to dealing with distressed customers.… Continue Reading

UPDATED Global Insolvency Report: Impact of Covid-19 on Insolvency Laws

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

Quick Guide and On-Line Tool: Unlocking UK Businesses

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

Is Presenting A Winding Up Petition Too Much Of A Risk (UK)?

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

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

Quick Guide to Directors’ Duties across Europe

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 setting … Continue Reading

Summary of European Governments’ Financial Support: updated to include the Middle East

On 7 April, we launched our Summary of European Governments Financial Support, to provide a quick and easy guide to what support is available to businesses. Please view our updated version of the guide, with additional content for a number of key Middle East countries. Throughout Europe and the Middle East, governments have sought to … Continue Reading

Directors’ Duties – a Guide for Businesses in the Czech Republic

This quick guide summarises the duties that directors of companies incorporated in the Czech Republic 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 … 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

Directors’ Duties – a Guide for Belgium Businesses

This quick guide summarises the duties that directors of Belgium 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
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