Tag Archives: restructuring

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

Knowing your Focaccia from your Furlough – the UK Court serves up some clarification about furloughing employees where the company is in administration

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

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

COVID-19 (UK): Small mercies – HMRC clarify position on insolvency proceedings

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

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

Accessing financial support – a guide for Belgium businesses

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

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
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