The Chancellor of the Exchequer, Rishi Sunak, delivered the government’s ‘Winter Economy Plan’ on Thursday, 24 September 2020. Set against a marked deterioration in data tracking the spread of coronavirus in the UK signalling a worsening of the health crisis, the statement was afforded heightened importance by the postponement of the Autumn Budget. Given the severity of the impact of COVID-19 on, and the continued fragility of, the UK economy, there is some economic and…

On Tuesday 22 September, we hosted our Resetting Retail: Response to COVID-19 event. Our panel of experts, comprising Matthew Lewis, Head of Retail; Richard Lim, Chief Executive, Retail Economics; Paula Laird, Financial Services partner; and John Alderton, Restructuring & Insolvency partner, explored the viability, sustainability and recovery of UK retail as we head towards the three-month mark from the unlocking of UK retail amidst the global COVID-19 pandemic. Topics included: A look at the retail…

In this blog we examine the economic impact of Covid-19 on the Italian economy, through an analysis of economic data relating to the lockdown period from February to May 2020, an assessment of the impact of the Italian government’s measures, and a view on what the future might look like for the Italian economy.…

As we discussed in our previous blog relating to the Supplier of Last Resort Process, energy company insolvencies bring with them a range of different processes and requirements which other companies do not need to consider. In particular, the involvement of the Secretary of State and the Gas and Electricity Markets Authority (GEMA) in energy company insolvencies is especially notable. This month, new legislation was introduced to dictate how the Corporate Insolvency and Governance…

The Australian federal government has announced that the temporary changes it enacted in March to the Corporations Act concerning insolvent trading laws and the creditor’s statutory demand regime have been extended to 31 December 2020. The changes were due to expire on 25 September. Please see out alert for further information.…

In a series of blogs, we will be reflecting on how the coronavirus disease 2019 (COVID-19) has affected local economies and businesses considering the impact of lockdown, how businesses have fared during the pandemic, whether support from the government has helped protect against business failure, which sectors have been hardest hit by the pandemic and which have prospered, as well as considering the impact of a second wave and what the future might hold. In…

Many local, national and global businesses with UK operations have been significantly impacted by the coronavirus (COVID-19) pandemic. Cash flows have been impacted, trade and supply chains disrupted and business and consumer confidence damaged. Many businesses are facing the same challenges at the same time. The key for businesses to resetting for the “new normal” is to consider the options now and take advice. Resetting may involve: Re-evaluating supply chains and remodelling financial and business…