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
The government consultation: Commercial property and rent arrears through the pandemic
The government consultation: Commercial property and rent arrears through the pandemic As legal restrictions on the recovery of commercial rent arrears continue, the government has launched a consultation on whether to extend, remove or replace the measures. During the pandemic, emergency legislation was put into place to protect commercial tenants who were struggling to survive because of lockdowns and downturns in their businesses. While this has undoubtedly protected tenants, it has left landlords in a difficult position. Covid-19 restrictions
The 4 ways to legally terminate a contract: breach of contract, performance and agreement
The 4 ways to legally terminate a contract: breach of contract, performance and agreement Disruption is common in the business world, with unforeseen events or difficulties meaning that contracts sometimes cease to be beneficial or even possible. We take a look at various ways in which a contract can possibly be legally terminated. If you have entered into a contract that you later wish to terminate, it is important to follow the correct procedure. Failure to do this could
What are the strategies for preventing shareholder disputes?
Strategies for preventing shareholder disputes Shareholder disputes can be disruptive to a company, diverting management attention from the business and potentially damaging its reputation. Putting the right framework in place to avoid disputes will not only help prevent shareholders from being disgruntled but can also make a company a more attractive proposition should it ever want to seek investment or new ownership. Shareholder agreement The most effective way of avoiding disagreement is by putting a strong shareholder agreement in