Companies Provided Additional Protection from Insolvency Key Contact: Hugh Hitchcock Author: Joe Smith The measures introduced by the Corporate Insolvency and Governance Act 2020 (“CIGA 2020”) aimed to protect businesses from the financial strain of COVID-19 by introducing a range of different measures. Some of the temporary measures in focus in this note, which are...Read More
Breaking News: Furlough Extended to March 2021 Key Contact: Claire Knowles Author: Rebecca Mahon The Chancellor has just finished speaking in Parliament. In a dramatic announcement, he has confirmed that the furlough scheme will be extended to 31 March 2021. The Chancellor’s message was quite straight forward. The Bank of England are predicting a slow...Read More
After weeks of preparation for the JSS Open and Closed, which were due to start today, he also announced that the original Coronavirus Job Retention Scheme (also known as the “the furlough scheme” and the CJRS) will be extended during this time. Whilst the lockdown only applies in England, the extension of the CJRS is...Read More
The Prime Minister has announced a new three-tiered system of local COVID alert levels which take effect in England from Wednesday 14 October 2020. The rationale behind this reform is to simplify and standardise Coronavirus rules and restrictions following rising infection rates and concerns that existing systems are complicated and disproportionately implemented.Read More
COVID-19 Support: New Support Announced for Businesses in Wales Key Contact: Christian Farrow Author: Chris Doherty The Welsh Government has announced two new schemes which will offer a total of £140 million in grants to support Welsh businesses impacted by the Coronavirus pandemic. The new schemes have been introduced following a series of “local lockdowns”...Read More
Banking and Business during COVID-19 Key Contact: Christian Farrow Author: Chiara Howfield News from the ground With predictions that the UK will enter into a recession, certain institutional banks such as NatWest, Barclays and Santander have agreed to suspend payments to shareholders with a view of freeing up billions of pounds worth of cash. The...Read More
Changes to UK Insolvency Laws Key contact: Christian Farrow Author: Chris Doherty The Government has proposed emergency changes to the UK insolvency laws which will offer additional protection to businesses in financial distress as a result of the Coronavirus outbreak. A “temporary moratorium” will be available for businesses unable to meet their debts due to...Read More
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