Corporate Insolvency and Governance Bill 2020 Key Contact: Natalie Jones Author: Joe Smith The Corporate Insolvency and Governance Bill 2020 (the Bill) aims to shake up current insolvency rules to offer a lifeline to companies that are on the edge of insolvency. The Bill was published on 20 May 2020, with the hope that it...Read More
‘Recovery Roundtables’ Launched for Economic Bounce-Back Key Contact: Natalie Jones Author: Joe Smith On 8 June 2020, the Government announced that a number of working groups have been launched this week in the hope of providing a strategy for the bounce-back of business and economic growth. The Business Secretary Alok Sharma, who is responsible for heading these...Read More
Future Fund Opens for Applications Key Contact: Phil Pugh Author: Chris Doherty Applications for the Future Fund, a £250 million fund to support innovative companies which are facing financing difficulties due to the coronavirus outbreak, have been open since Wednesday 20 May 2020. The Fund has already attracted significant interest, with reports that demand almost immediately surpassed...Read More
Government working on large business bailout plan Key Contact: Christian Farrow Author: Chris Doherty The Chancellor of the Exchequer Rishi Sunak is developing a bailout package to protect key British firms from going bust due to the COVID-19 outbreak. The so-called “Project Birch” will be targeted towards “viable businesses which have exhausted all options” whose collapse would...Read More
Borrowing limit to be increased for the Coronavirus Large Business Interruption Loan Scheme Key Contact: Christian Farrow Author: Chris Doherty The Government has announced proposals to extend the Coronavirus Large Business Interruption Loan Scheme (CLBILS) by raising the borrowing limit. Currently, eligible businesses with turnover of more than £45 million per year can apply for up to...Read More
Future Fund Opens for Applications Key Contact: Christian Farrow Author: Chris Doherty Future Fund is a £250 million fund which has been set up to support innovative companies which are facing financing difficulties due to the coronavirus outbreak and are unable to access other government business support programmes because they are either pre-revenue or pre-profit. The scheme...Read More
Changes to the Circular Economy Fund (Wales) Key Contact: Christian Farrow Author: Chris Doherty Waste and Resources Action Programme Cymru (WRAP) has announced changes to its £6.5 million Circular Economy Fund. WRAP has extended the scope of its funding beyond funding the use of recycled materials in products, so that it will now be available to “organisations...Read More
BREAKING NEWS: Furlough Scheme extended by four months Key Contact: Christian Farrow Author: Chris Doherty This afternoon, the Chancellor of the Exchequer Rishi Sunak confirmed that the Coronavirus Job Retention (“Furlough”) Scheme will be extended to October. Employees unable to work due to the impact of the Coronavirus outbreak will continue to receive 80% of their monthly...Read More
Lockdown restrictions to ease in England Key Contact: Christian Farrow Author: Chris Doherty The Prime Minister Boris Johnson provided an update on Sunday evening on the Government’s proposed changes to lockdown restrictions in England, the first small steps towards reopening the nation after nearly two months of lockdown. The Government’s new message to people in England, “stay...Read More
Applications for the Bounce Back Loan Scheme open today Key Contact: Christian Farrow Author: Elena Visser The Bounce Back Loan Scheme (BBLS) opens today to help small and medium-sized businesses borrow between £2,000 and £50,000. The government will guarantee 100% of the loan and there will not be any interest on the loans for the first 12...Read More
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