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Overview of the Coronavirus Business Interruption Loan Scheme
The Government recently announced the Coronavirus Business Interruption Loan Scheme “CBILS” operated through the British Business Bank on behalf of the Government.
Changes to Insolvency Laws
As you may be aware, in response to the coronavirus epidemic the Government has announced changes to the existing insolvency laws around the continuity of businesses that may provide some much-needed comfort for directors and business owners that are feeling concerned. As the law currently stands and in accordance with section 214 of the Insolvency Act 1986, once a director of a company concludes that there is no reasonable prospect of their company avoiding insolvency then the directors have a [...]
Coronavirus Support for Businesses Update
On Friday 2oth March, the British Government responded decisively with unprecedented measures around how they plan to support British businesses and individuals during the Coronavirus pandemic. The closure of pubs, restaurants and the leisure sector, in general, represents the most significant enforced peacetime societal interruption to the nations pastimes and leisure activities. In a quite frankly, staggering series of measures announced by the Chancellor of the Exchequer on Friday evening, limitless funds were pledged to assist businesses and their [...]