Award Mouse thought multimedia interface book medal screen monitor

    Reset Your EMEA Business

    Many local, national and global businesses have been significantly impacted by the coronavirus disease 2019 (COVID-19) pandemic. Cash flows have been impacted, trade and supply chains disrupted and business and consumer confidence damaged.

    Most businesses are facing the same challenges at the same time. The key to resetting is to consider the options now and take advice. Resetting may involve:

    • Restructuring by making redundancies, closing unviable operations or selling loss-making divisions
    • Refinancing through new borrowings, debt for equity swaps or other initiatives
    • Agreeing informal or formal compromises with creditors

    We set out by jurisdiction:

    • What Financial Help Is Available
    • How Directors’ Duties Are Impacted
    • How to Prepare for the New Normal
    • What Temporary Business Support Is Available

    For businesses operating in multiple jurisdictions, we have set out in a series of consolidated international guides:

    Download our UK Resetting Your Business for the New Normal document, which is an easy, compact version of this web page for you to review at any time.

    Many governments have reacted quickly to try to mitigate COVID-19’s impact by implementing financial support schemes and resources to help support local businesses. As lockdown has progressed, certain measures, which were temporarily enacted, have come to an end. Our guides set out the government financial support packages available in the jurisdictions below, using a traffic light system to show the current status of the measures.

    Europe

    Middle East

    Different countries frame the exact description of the role of directors of a company in different terms. One feature is common to all – the obligation not to continue trading if a company is insolvent. Again, the detailed implications of doing so vary from one jurisdiction to another.

    However, this obligation not to continue wrongful trading is at the heart of trust in a market-based economic system.

    Whether you are a supplier, creditor, shareholder, customer or employee, you rely on the directors of the company you are dealing with to discharge this duty diligently. Sanctions for breach of this duty are rightly personal, and serious.

    The following country guides set out an overview of considerations for directors when a company is in financial difficulty.

    Our guide to the “new normal” has been produced to be UK and Australia specific, but many of the considerations set out in the guide apply to many business in many jurisdictions.

    How to mitigate the impact of COVID-19 on companies’ business operations and finances is crucial to the long-term viability of global businesses. Governments in several countries have reacted quickly to try to mitigate COVID-19’s impact by changing or amending their insolvency laws.

    The following country guides set out an overview of the key changes in restructuring and insolvency laws that select countries have undertaken and use a traffic light system to highlight the current status of those measures:

    • Measure expired
    • Measures are set to expire in one to two weeks
    • Ongoing measure