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31.03.20 / Insight posted in BrochuresIn the current economic downturn there is an increasing number of businesses experiencing financial difficulties. Lenders now face greater potential of nonpayment of some or all of their outstanding loan book. Our multidisciplinary team of corporate finance and insolvency specialists are able to provide an integrated, practical and deliverable business solution.
READ MOREAgencies: managing your cash flow in uncertain times
31.03.20 / Insight posted in Articles, BrochuresNever before has the mantra “cash is king” been so important. In these uncharted waters it is vital to manage your agency’s cash flow closely to ensure your business comes out the other side in good health. At Moore Kingston Smith our team includes directors who have worked in marketing agencies and have hands-on experience…
READ MOREKey Points of the $2 Trillion Coronavirus Stimulus Plan for Small Businesses
31.03.20 / Insight posted in ArticlesThe US Senate has passed an historic $2 trillion stimulus package aimed solely at supporting American workers and businesses. In addition to the headline $1,200 payments to be made to individual Americans, the key points of the 880-page bill aimed at supporting small businesses includes the following: $350 billion available to small businesses, under the…
READ MORECoronavirus disruption – how this could affect your contractual rights at home and abroad
30.03.20 / Insight posted in ArticlesIf you do business in other countries, it could be important to consider how Coronavirus disruption affects your business contracts. Clearly we are in unprecedented times and a lot of events, activities and parts of normal day-to-day life will be cancelled due to the Coronavirus. Some of the firms in our international network Moore Global…
READ MORECovid-19 – Coronavirus and force majeure in Italy (Bureau Plattner)
30.03.20 / Insight posted in ArticlesFirst of all it is important to point out that no specific definition of force majeure exists under Italian law. Therefore unless a specific regulation addressing this kind of clause has been incorporated into the contract by the parties, the general provisions of the Italian Civil Code will apply. In particular, these general provisions relate…
READ MORECovid-19 – Coronavirus and force majeure in Germany (Sonntag & Partner)
30.03.20 / Insight posted in ArticlesMany German contracts – often in General Terms and Conditions – contain a “force majeure clause” regulating the consequences of the parties’ failure to perform their contractual duties due to factors outside of their control. It is thus crucial to check the contract wording to be able to assess whether disruptions due to the coronavirus…
READ MORECOVID-19 – Coronavirus and force majeure in France (Soffal)
30.03.20 / Insight posted in ArticlesIn a fact sheet published on 17 March 2020 on its website, the French Ministry of the Economy confirmed that Coronavirus would be considered a force majeure event for companies, particularly with regard to State and local authority public contracts. As a consequence, penalties for late performance will not be applied to these contracts. But…
READ MORECovid-19 – Coronavirus and force majeure in Belgium (Moore Belgium)
30.03.20 / Insight posted in ArticlesIn the absence of a force majeure clause in your Belgian contracts, force majeure can be invoked under Belgian Law. In principle, compensation is due to the injured party in the event of non-performance, late performance or improper performance of contractual obligations. However, if a failure in fulfilling contractual obligations is a result of a…
READ MOREAmended insolvency law to give a breather for directors
30.03.20 / Insight posted in ArticlesThe government has announced changes to insolvency law. This is to protect directors from actions against them for continuing to trade while insolvent (wrongful trading) as they fight to keep their business intact during this period. Under current insolvency law, a director can be held personally accountable to a liquidator if they continue to trade…
READ MORECoronavirus Job Retention Scheme: the details of the scheme
27.03.20 / Insight posted in ArticlesFurther guidance was released on the Coronavirus Job Retention Scheme on 26 March 2020 which clears up a number of uncertainties around the operation of the scheme and furloughing of employees. Read more here.
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