Joint Webinar: Directors’ duties and the Coronavirus Business Interruption Loan Scheme

In this webinar, Harriet Jones and Adam Dowdney, partners at IBB Solicitors discuss the statutory framework around directors' duties and how these may alter if the company is in danger of insolvency. As director’s duties and obligations change and the priority shifts to looking after creditors so analysing whether a company is “insolvent” becomes of increasing importance, as does evidencing decisions made. They will also consider a director’s duties in the context of applying for the Coronavirus Business Interruption Loan Scheme (CBILS) loan, what they need to bear in mind whilst making the application and points to consider when negotiating the loan documentation.

Following on from this, Adrian Howells, director in Quantuma's Corporate Finance Team,provides an overview on what we are seeing from lenders in the CBILS market, details of recent changes in the schemes and explore what a business’ options look like if they are rejected by a lender.

He also covers:

• What makes a good application and key criteria to address
• Thinking about the future – working capital growth during the recovery and repayment of debt
• Views on funding options beyond CBILS for stressed balance sheets

This webinar was chaired by Ian Barton, partner at Quantuma.