New insolvency legislation and accessing the Future Fund
The new Corporate Insolvency and Governance Bill is designed to ease the impact of COVID-19 on businesses and allow them to focus their efforts on continuing to operate. New insolvency measures and tools have been introduced, designed to add flexibility to the existing options available to companies in financial difficulty to help them survive or change shape.
The government has also recently launched its co-investment scheme, Future Fund, aimed at supporting start-ups and high-growth companies during the disruption caused by COVID-19 and beyond, which enriches its initial package of COVID-19 liquidity schemes for start-up and scale-up organisations.
Both of the above government-led initiatives are targeted at the liquidity gap faced by many businesses in the wake of the ongoing COVID-19 pandemic and the associated lockdown restrictions, but also the cash and working capital pressures that will be experienced as businesses seek to restart or increase activity as those restrictions are eased.
Working in partnership with Smith & Williamson, and building on our Scaling up for Success seminar series which has been currently put on hold due to the pandemic, we will be running this webinar on Wednesday 17 June and will be discussing what these initiatives mean for SMEs, ending with a Q&A session with our panel of experts. Topics will include:
- Proposed temporary suspension of the UK’s wrongful trading laws and of winding-up petitions
David Steinberg, Partner – Restructuring and Insolvency, Stevens & Bolton LLP - Likely impact of the new ‘moratorium’ procedure – does it spell the end for administration?
Kevin Parish, Associate Director - Restructuring and Recovery Services, Smith & Williamson - Future Fund – what it is and how to access this potential source of matched investment into your company
Amanda Philips, Head of Corporate Finance - Southern, Smith & Williamson
Nick Atkins, Partner - Head of Entrepreneurs, Stevens & Bolton LLP