FAQs relating to commercial contracts post COVID-19
FAQs relating to commercial contracts post COVID-19: How do you manage commercial contract disputes following the coronavirus pandemic? 13st August 2021 Without doubt, the coronavirus pandemic has had huge repercussions on the UK economy with many businesses left reeling from both the pandemic itself and the introduction of government measures to protect the public. Many enterprises have found it difficult to continue operating; supply chains have been and still are disrupted; events have been cancelled, and businesses have been
Landlords and tenants: Government issues a new policy on ‘ringfencing’ rent debt accrued during the pandemic
Landlords and tenants: Government issues a new policy on ‘ringfencing’ rent debt accrued during the pandemic closures. 17th August 2021 On 4 August 2021, the UK Government updated their policy on supporting businesses with commercial rent debts. The Government says the aim is to ‘provide the breathing space needed’ for negotiations between tenants and landlords as they try to resolve the issue of £7.5 billion of commercial rent that is in arrears, according to estimates by the British Property
UK Corporate Insolvency and Governance Act 2020: Covid-19 update and implications for company directors
UK Corporate Insolvency and Governance Act 2020: Covid-19 update and implications for company directors 3rd August 2021 In March 2021, the government extended temporary insolvency measures to aid businesses in dealing with the current and continuing disruption caused by the pandemic. The measures so far have avoided a big spike in insolvencies and the extension of relief aims to continue this. Temporary measures in the Corporate Insolvency and Governance Act 2020 The new Corporate Insolvency and Governance Act contains
Payback for bounce-back loans approaches: Handling debts, disputes and deadlines
Payback for bounce-back loans approaches: Deadlines, handling debts and disputes 20th July 2021 The Government’s bounce back loan offered to businesses during the coronavirus pandemic, gave emergency finance to struggling organisations of between £2,000 and £50,000. The loans were interest-free for the first twelve months, with the first loans delivered in May 2020. This means that for some, the time to start repaying is here. For those not repaying the full amount straight away, interest will be payable on
Corporate debt recovery: A guide for small businesses
7th July 2021 Corporate debt recovery: a guide for small businesses Good credit control is vital for small businesses and can sometimes make the difference between success and failure for an organisation where good cash flow is important. Understanding your rights and how best to recover debts will help you control late payments and keep them to a minimum. Late and unpaid debts can be disruptive to a business, meaning time spent chasing debtors and keeping records of attempts
Employment law and Covid: Over half of UK workers want to change career path following the pandemic
Employment law and Covid: Over half of UK workers want to change career path following the pandemic. As the world of work opens up again and lockdown restrictions lift, many people are considering a change of occupation. The break in normality caused by Covid-19 gave many workers the chance to consider their direction in life and ask themselves if they are on the right path. According to a study entitled How we live conducted by insurance and investment company
New law aims to close loophole on company dissolution
New law aims to close loophole on company dissolution The government is set to introduce new rules preventing company directors from avoiding personal liability for their unlawful conduct. A loophole currently exists that allows company directors to prevent an investigation into their actions by informally striking off their own company. The so-called dissolution loophole prevents the Insolvency Service from conducting enquiries as only live companies or those in a formal insolvency process can currently be investigated for fraudulent trading
A guide to winding-up proceedings: How does the process work?
A guide to winding-up proceedings: How does the process work? A winding-up petition allows a company’s creditors to attempt to recover money owed to them by having the company’s assets sold, with the proceeds used to pay outstanding debts. It is a serious step and should only be undertaken as a last resort. A winding-up petition is one of the most severe actions that can be taken against a company by one of its creditors. It will potentially be