Michael Reid, managing partner at Meston Reid & Co, gives his take on how changes to insolvency law could come into play for one key industry sector the fishing industry.
Whether it is the continuing impact of Covid-19 or the more recently reported effects of Brexit, media comments proliferate about the financial distress faced by numerous businesses in Scotland who are involved with fish catching, processing and selling.
Although a fund has been established by the UK government to try to help businesses survive in the short term, it may be insufficient to deal with all applicants.
Last June, the Corporate Insolvency and Governance Act 2020received Royal Assent. A key focus was to try to prote…
Read the full article at: https://www.scottishlegal.com/article/michael-reid-can-insolvency-legislation-save-struggling-fishing-industry-firms
