Hassans’ Partner Nigel Feetham QC takes a look at the risk of insolvency for businesses in the current coronavirus crisis and the new measures governments around the world are taking to provide much needed breathing space to try to navigate the economic storm.
Nigel also takes a look at the mistakes companies can make as we return to the new normal, and what companies can to do to adapt to the new dawn, if not new normal, including to change mindsets to maximise the opportunities that an economic crisis can also bring. He concludes that some countries had gone too far to stigmatise insolvency but that this is about to change.
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Whilst no consolation to the businesses that might still unfortunately fail over the coming months, if not years, because of the coronavirus, I am pleased to see a move by governments worldwide to de-stigmatise insolvency, but perhaps it shouldn’t have taken this economic crisis for this realisation to dawn.
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