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
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
Today sees the formal launch of the Coronavirus Large Business Interruption Loan Scheme, or CLBILS for short. This is the third scheme in the trinity of the Government’s direct funding schemes to UK business impacted by the pandemic. Targeted at businesses with an annual turnover in excess of £45m, its arrival is intended to plug … Continue Reading
The landscape relating to winding-up petitions has changed due to the COVID-19 pandemic. Hundreds of petitions have been adjourned already, and the new Temporary Insolvency Practice Direction has now adjourned all hearings due to take place before 21 April across the country. It also sets out new procedures and timings for the listing and re-listing … Continue Reading
The High Court has delivered the first decision on the Coronavirus Job Retention Scheme (the “Scheme”), in the context of the Carluccio’s administration. As we have previously discussed, despite further clarification from HMRC over recent days, there remain some unanswered questions regarding the detailed operation of the Scheme, given that the Scheme’s exact legal framework … 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
How are countries re-vamping their Insolvency and Restructuring Laws to Combat Covid-19. Our guide summarises the key changes in the following jurisdictions: Australia, China, Czech Republic, France, Germany, Japan, Poland, Russia, Spain, United Arab Emirates, United Kingdom and the United States.… Continue Reading
In a move that will be greeted with a small sigh of relief by individuals, businesses and insolvency practitioners affected by the coronavirus pandemic (COVID-19), HM Revenue and Customs (HMRC) has published new guidance on its approach to insolvency procedures. The guidance covers: Ongoing voluntary arrangements (VA), and HMRC’s enforcement activity… Continue Reading
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
To assist German businesses in understanding what financial support packages are now available we have produced a helpful guide summarising those. This gives an overview of the packages, 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
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
Following the announcement from the UK Government on Friday of further financial assistance for UK businesses we have updated our guide which gives an overview of the packages, 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
To assist Spanish 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
To assist Italian 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
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
To assist Czech Republic 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 … Continue Reading
To assist Belgian 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
To assist Polish 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
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
We have updated our guide setting out what funding is available to UK businesses, what the eligibility criteria is, how to apply for the funding and when it will be available. To access the most up to date guide click on this link. This will link to our consolidated guide that is regularly updated and … Continue Reading
This updated note sets out directors’ duties in the context of managing the practicalities that Covid-19 places on business operations. … Continue Reading
What should German organisations be doing to mitigate the impact of Covid-19 on their business, staff, supply chains, etc Here is an overview of the key legal issues for businesses in Germany to consider, together with some practical steps for businesses to take. Also available in German – click here.… Continue Reading
Some of the businesses most severely affected by the Covid-19 pandemic operate in the retail, hospitality and leisure sector, with many being instructed by the Government to close down. For many of those same enterprises, business rates probably represent a (if not the) major operating cost. In attempt to alleviate some of the financial damage, … Continue Reading
