Jonathan Walton of Whitley Stimpson and Peter Windatt of BRI Business Recovery and Insolvency discussed business recovery post COVID-19 via video chat on Thursday 25 June on the B4 Live platform. A recording of this discussion can be found below.
They emphasised the need to seek advice early and provided an insight into the following areas:
- what insolvency is
- the 2 main tests of insolvency
- when to call upon insolvency practitioners
- personal liabilities to directors
- suspension of wrongful trading provisions
- company dividends
- obtaining a moratorium
- winding up petitions
- prevention of suppliers from terminating contracts or raising prices
- government schemes in response to COVID-19
- return of the Crown as a preferential creditor
- business recovery procedures
Thank you to all at B4 Live for producing this video live chat. If you have any fears about your business please get in touch, we can recognise situations and put you in touch with professional advisors.