b'Lifting LockdownBUSINESS RESCUE, RECOVERY AND TURNAROUND COVID-19 2020SUSPENSION OF WRONGFUL TRADE Page 2 NEW PROPOSED MORATORIAM Management team: PROCEDUREPage 2Janet Peacock, Cheryl Gray, Tim Corfield, Emma Wallis, Mark Shaw.pandemic and allow them the best chance of survival.This e only newsletter is a summary of the major changes.These measures will form part of a new regime that looks to assist struggling businesses through this difficult period.COVID 19WHATS NORMAL No doubt, further guidelines will beABOUT THE NEWOnly a few months ago not manyissued in due course. NORMAL?Page 3people had heard of Covid 19. Now,Above all, directors still need to be its changed all of our lives, somemindful of the huge obligations theyHERES SOME STATSPage 4more than others.remain under. If the business was struggling before this crisis startedCOMPETITION TIMEPage 4On the economic front the Governmentit shouldnt be used as a reason for has acted quickly. Some new laws arecarrying on and incurring further already in place and there is a newKEEPING YOU INFORMEDliabilities.proposed corporate and insolvency billNows the time to take advice. Company Voluntary presently going through parliament.ArrangementsThis is likely to be law very soon to Individual Voluntary support businesses through the globalby Tim Corfield G & K Arrangements -Consumer DebtsUK INSOLVENCIES DOWN AS Liquidation Individual Voluntary SUPPORT PLANS KICK IN Arrangements -Business DebtsFigures show the number of corporate insolvencies in the UK Administrationhave fallen by one third in April compared to last year, as the Bankruptcypandemic takes charge.AppointmentsIn the short term, at least, the Government supportDownload a copymeasures seem to be working. G & K www.griffinandking.co.ukwww.griffinandking.co.uk | email: janet.peacock@griffinandking.co.ukGriffin & King, 26-28 Goodall Street, Walsall, West Midlands WS1 1QL'