My business is struggling financially because of Covid-19: what are my options? As the economy struggles to recover from the Covid-19 crisis, many businesses are finding themselves in difficulty. It is important to know what help is available and what the options are if you may be facing insolvency. Government support The government are
The treatment of director’s loan accounts in administration or liquidation: Can DLAs be reclassified as remuneration? A recent case has highlighted the dangers of the treatment of a Director’s Loan Account (“DLA”), and the risks to directors of trying to re-categorise their DLAs as salary payments. This can mean that the information previously provided
Remedies for breach of contract: Can you claim compensation? When a commercial contract is breached, it can cause profound difficulties for a business. Knowing what remedies are available means you can protect your legal position and seek to enforce your rights or obtain compensation when this is not possible. When a contract is breached
UK Corporate Insolvency and Governance Bill: General meetings and corporate restructuring A new bill, placed before Parliament on 20 May 2020, has been designed to offer protection to businesses and support the UK economy. The Corporate Insolvency and Governance Bill will allow companies in difficulty to benefit from a range of steps to try
UK Government publishes new guidance for contractual behaviour during the Covid-19 pandemic In May 2020, the Government issued guidance on responsible contractual behaviour in dealing with the performance and enforcement of contracts impacted by the Covid-19 emergency. The document is not legally binding, however, parties are strongly encouraged to follow its guidance for not
