Company Restructuring and Asset Protection – Coronavirus (COVID-19)

March 27 , 2020
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  • Company Restructuring and Asset Protection – Coronavirus (COVID-19)
March 27 , 2020

Company Restructuring and Asset Protection – Coronavirus (COVID-19)

Overnight, many businesses have gone from doing financially ok or financially well, to survival mode.

And we get it.

But when things get tough, trying to deal with things by yourself will likely cause more issues. You have to plan ahead and navigate the potential problems that may derail your business (even if they seem remote right now) – with help from skilled professionals.

Ask yourself, is your business ready for what life might be like post-COVID-19? Have you thought about restructuring?

The Government is offering support for a short period and understanding how that might work, is complex. If you intend to lean on this help, you must have pin point clarity to allow you to plan effectively.

There are also new loans available to help bridge the cash flow gaps. Some clients are considering short term cash flow loans and others, seeking to refinance their entire position, allowing for efficiency and time to climb out of whatever financial difficulties they’re currently facing – or likely to face. Consequently the banks will insist on you having a lawyer to represent you / the business.

There may also be tax consequences, employee / HR consequences, supplier contracts to consider, business development requirements and of course your personal position / asset protection.

Don’t be one of those that thinks we’re all in this together and somehow we’ll muddle through it. You know it doesn’t work like that in business. The successful business leaders are those that plan ahead – well in advance – and when the time comes they restructure their businesses to adapt to the underlying environment – including where necessary a downsizing, a disposal and even merging, to enable survival.

We guide our clients to ensure they are prepared and ready for whatever may come by working alongside them and carefully explaining the options available.

Now is the time to look at how your business is (or is not) working. Do it and save your business from going into a permanent quarantine.

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We were recently awarded ‘the most trusted law firm’ in London and in a time of uncertainty, being trusted is what you need.

With everything that’s going on, we can discuss fees later. Let’s get on the phone and talk about your actual needs – that’s the priority.

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