Part of the privilege in the UK of operating a business through a company is that there is limited liability to shareholders if things go wrong. The quid pro quo is that some level of public disclosure is required, and hence the need to file annual accounts and provide the public with details of directors and persons […]
When companies face distress, directors must act responsibly to protect both their company and the risks of personal liability. It’s important to understand recent case law and the statutory obligations that guide directors’ duties during challenging periods. This article provides a review of directors’ obligations under the Companies Act 2006 and Insolvency Act 1986, before exploring recent[…]
Around March 2020 the Coronavirus arrived in the UK and caused severe problems for all businesses. The government had to protect the economy and provide additional tools for the inevitable stains on cash flow. The Corporate Insolvency and Governance Act 2020 (CIGA 2020) received Royal Assent on 25 June 2020 and introduced temporary measures to protect companies[…]
