COVID-19 Insolvency Risks: Guidance For UK Directors

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The guidance set out in this document is provided for the benefit of UK directors in order to address certain potential insolvency-related risks which may arise as a result of the challenging circumstances affecting many companies presently.

LOOKING TO THE FUTURE -

To date, beyond furloughing measures, all of the Government’s actions to preserve businesses have been to postpone liabilities (rather than cancel them). Therefore, as we navigate the effect of the pandemic, a key focus for boards and their advisors will be on reaching compromises where there is not enough money to satisfy all creditors.

Please see full Publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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