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Julie Hunter
 

Update: Corporate Insolvency & Governance Bill 2020

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The measures put in place by the government earlier this year to protect businesses against the threat of insolvency and those protecting directors against wrongful trading claims by a liquidator have been extended to 31 December 2020, to give companies...

High Court clarity regarding business interruption insurance

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On 15 May 2020, the Financial Conduct Authority (FCA) announced that it would bring a test case against eight insurance companies aimed at resolving contractual uncertainty around the validity of claims made by business owners with business interruption...

What is an administration order?

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An administration order could be a way to deal with debt if you have a county court or High Court judgment against you and you cannot pay in full. But who qualifies for an administration order and which debts are included? An administration order is an...

Coronavirus Business Interruption Loan Scheme - personal guarantee update

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Following the widespread criticism of the requirement for directors to give their personal guarantees to secure lending under the Coronavirus Business Interruption Loan Scheme (CBILS), the government has announced that personal guarantees can now only be...

Coronavirus Business Interruption Loan Scheme - advice to owners and directors providing personal guarantees

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The government’s Coronavirus Business Interruption Loan Scheme (BIL) went live on 23 March 2020 and is intended to support SMEs by providing access to loans, overdrafts, invoice and asset finance which they cannot otherwise obtain, of up to £5m...

Directors duties update - three month extension to file accounts and wrongful trading

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The government continues to issues briefings on their measures to ease the regulatory burden on companies during the current crisis. Further measures to assist directors and SMEs are expected over the coming weeks, and we will continue to update our advice...

Top ten tips for directors of distressed companies

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Many businesses are facing challenging times. The economic impact of the current climate may last up to 12 months. Sadly, some businesses already in distress will not survive and insolvency is inevitable. For others, the possibility of insolvency is ever...

COVID-19: is your business immune from liability under your contracts?

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The outbreak of the coronavirus disease, COVID-19 continues to pose a significant threat to businesses in the UK. The impact on supply chains, transport and international travel is causing businesses to consider the impact of coronavirus on their current...