29 Jul 2020
The Corporate Insolvency and Governance Bill offers directors of struggling companies with some welcomed respite in regards to some of their decisions and action during the COVID-19 period. There is relief available with regards to personal liability for wrongful trading, voluntary moratoriums and restructuring options.
Wrongful trading
The impact of the COVID-19 escalated quickly in March 2020, and directors at that time were met with making difficult and unprecedented decisions in order to keep companies afloat.
Many businesses were admirably quick to adapt, and continued to trade in the best way they could despite the challenges, in an industrious and entrepreneurial spirit. The Bill provides directors with some comfo…
Read the full article at: https://www.trethowans.com/news/corporate-insolvency-and-governance-bill-company-law-in-the-time-of-covid-19-part-2-of-3
