The corporate insolvency and governance act

09.07.20 / Insight posted in Legal

The most significant change to the UK’s insolvency regime since the Enterprise Act 2002 was introduced by the UK government on 20 May 2020.  The Corporate Insolvency and Governance Act 2020 received Royal Assent on 25 June 2020 and most provisions came into force on the 26 June 2020. The Act was brought into law…


Future Fund: help for businesses

29.05.20 / Insight posted in Legal

The government’s Future Fund programme opened on 20 May 2020 and there has been huge demand for it. Despite strict requirements, which we mention below, future fund loans appear to be really taking off. It seems that the initial £250 million fund may not be sufficient to meet demand and it has been reported that…


Furloughing directors – the do’s and dont’s

21.05.20 / Insight posted in Articles, Legal

The government has confirmed that directors can be furloughed under the Coronavirus job retention scheme. However, the wider issues concerning directors’ duties and responsibilities must be considered, as the situation brings potential pitfalls. Many companies are making use of the Coronavirus furlough scheme. As office holders, salaried company directors are eligible to be furloughed and…


Payment of dividends during the Coronavirus pandemic

13.05.20 / Insight posted in Articles, Coronavirus, Legal

The current stress on the finances of many companies during the Coronavirus crisis means that directors should take the time to remind themselves of their legal obligations when declaring and paying dividends. Getting it wrong now could have serious consequences for them, the shareholders and the company. Companies in the most affected sectors might decide…


Probate and estate administration during Coronavirus

27.04.20 / Insight posted in Articles, Coronavirus, Legal

The Coronavirus pandemic has presented families and friends with many challenges as we all try to adjust to a new way of living. As well as Coronavirus-related deaths, lives continue to be lost through natural causes and accidents, and loved ones are left mourning a friend or relative without being able to find comfort in…


Executing declarations of solvency, deeds and Wills in the current crisis

16.04.20 / Insight posted in Articles, Coronavirus, Legal

Under English law, there are certain formalities for the execution and delivery of some documents. Due to the Coronavirus pandemic and the related restrictions, it may prove more difficult to comply with these formalities. In this note, we briefly look at some of these challenges. Companies House filings and declarations of solvency Companies House has…


Coronavirus: Directors’ duties and the risk of wrongful trading

02.04.20 / Insight posted in Articles, Coronavirus, Legal, Operations

This analysis looks at directors’ duties, particularly concerning wrongful trading, in the context of companies facing financial difficulties as a result of Coronavirus. Introduction The impact of Coronavirus is unprecedented and is already creating significant health, social and economic challenges across the world, not least the UK. The UK government has ordered the closure of pubs, restaurants,…


Coronavirus disruption: How this could affect your contractual rights

17.03.20 / Insight posted in Legal

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. We explore here some of the legal issues which arise from contracts which can’t now be fulfilled.