Tag Archives: UK

COVID-19: From Sea to Shining Sea: A Quick Update of U.S. and International COVID-Related Restrictions

Duane Morris is hosting the webinar, “COVID-19: From Sea to Shining Sea—A Quick Update of U.S. and International COVID-Related Restrictions,” on Friday, December 11, 2020, from 2:00 p.m. to 3:00 p.m. Eastern.

For more information and the registration link, please visit the firm website.

UK Government Flexible Furlough Scheme – New Guidance

The Government Guidance for the new Flexible Furlough Scheme (FFS) was released on 12 June. Accessibility to the new Guidance is not the most straightforward as the information is spread across the existing CJRS Guidance and three new pieces of Guidance. The Government has also produced a  summary overview of the key changes to the CJRS and the timetable for the same.

To read the full text of this post by Duane Morris partner Nic Hart, please visit the Duane Morris London Blog.

Termination Clauses and Temporary COVID-19 Relief From UK Corporate Insolvency and Governance Bill

The new Corporate Insolvency and Governance Bill will introduce new provisions to protect a company from suppliers wishing to terminate supply contracts or invoking more draconian terms when the company is entering into certain insolvency procedures, a CVA, or a new restructuring plan or moratorium (as introduced by the Bill), (each an “Insolvency Procedure”).

The purpose behind the new provisions is to maximise the possibility of a company being rescued or being able to sell its business as a going concern by helping it to trade through an Insolvency Procedure.

To read the full post by Duane Morris partner Linda Crow, please visit the Duane Morris London Blog.Corpo

New UK Government Furlough Scheme as of 10 June

From 1 July 2020, there will be a new flexible furlough scheme where furloughed employees will be able to return to work on a part-time basis. Full guidance has yet to be issued (proposed for 12 June 2020) but present Guidance has advised that only employees who started furlough on or before 10 June 2020 will be eligible for the new scheme.

To read the full post of this text by partner Nic Hart, please visit the Duane Morris London Blog.

The UK Government Introduces Corporate Insolvency and Governance Bill Prompted by COVID-19

Last week the UK government introduced the Corporate Insolvency and Governance Bill in Parliament.

The main objective of the Bill is to provide businesses with the flexibility and space needed to continue to trade during this difficult time caused by the COVID-19 pandemic. That said, the provisions around the new moratorium and the new restructuring plan proposal have been under consideration for a few years.

To read the full text of this post by Duane Morris partner Linda Crow, please visit the Duane Morris London Blog.

UK Government Launches Future Fund

On 20 April the United Kingdom’s Chancellor of the Exchequer announced that the UK Government would launch the Future Fund as part of the British Business Bank Coronavirus Business Interruption Loan Scheme. The Future Fund is intended to provide support to the UK’s innovative companies with good potential, for which we might read start-ups, growth companies or emerging companies.

To read the full text of this post by Duane Morris partner Sam Pearse, please visit the Duane Morris London Blog.

UK Government’s Temporary Suspension of Wrongful Trading Liability During COVID-19 Crisis

On 14 May 2020, the UK Government extended the temporary suspension of wrongful trading liability until 30 June 2020.

On 28 March this year, the Government announced that it would “at the earliest opportunity“ introduce legislation, retrospective to 1 March 2020, to relax the insolvency rules which can make directors of limited liability companies potentially liable if they continue to trade and incur liabilities when they knew or ought to have concluded that there was no reasonable prospect of avoiding an insolvent liquidation or administration.

To read the full text of this post by Duane Morris partner Linda Crow, please visit the Duane Morris London Blog.

UK Construction: Greater Fexibility with Site Opening Hours

Throughout the lockdown in the UK, the construction industry has been allowed to remain open for business providing that compliance with the Public Health England measures is maintained. However, most national house builders at least had taken a decision to close sites. Boris Johnson on Sunday 10th May, in his long awaited press briefing on the potential relaxation of social distancing road map, made clear that those in construction and manufacturing should go back to work, if they could.

To read the full text of this post by Duane Morris partner Vijay Bange, please visit the Duane Morris London Blog.