Entries by Jon Law

Protection from Wrongful Trading claims to end on 30 June 2021

The Corporate Insolvency and Governance Act 2020 suspended liability for Wrongful Trading as part of a series of temporary measures introduced during the pandemic. Whilst the suspension of presentation of statutory demands and winding up petitions has been extended again until the end of September, no further extension has been provided for in relation to […]

New requirements for pre packaged Administration sales to come into force from 30 April 2021

Under the snappily entitled ‘Administration (Restrictions on Disposal etc to Connected Persons) Regulations 2021’ an Administrator must not make a substantial disposal of a company’s assets or business to a connected party within 8 weeks of their appointment unless either: The company’s creditors have approved of the disposal; or A ‘qualifying report’ in respect of […]

Four in five small business owners suffering poor mental health

Rest assured that you are not alone if you are having sleepless nights worrying about what the future holds as the current Covid pandemic continues to affect business owners. New research has revealed that four in five small business owners report experiencing common symptoms of poor mental health at least a few times a year […]

Pay As You Grow: Bounce Back Loan (BBL) Update

The Government is asking banks to offer more flexibility to customers when BBL repayments are due to start. Called the Pay As You Grow (PAYG) approach, it will offer the following concessions: 1.           An extension of the term of the loan from six to ten years; 2.           The opportunity for borrowers to make interest only […]