Directors’ Duties in the zone of Insolvency and the COVID-19 Pandemic: Europe (June 2020)
In-depth Guides (Publications)
Many companies face challenges brought about by the sudden and wide-ranging economic impact of COVID-19. Governments around Europe are implementing measures to alleviate some of the financial consequences including the provision of emergency finance, government backed guarantees, and the deferment of tax. It is inevitable that many boards face unprecedented situations and challenges ahead.
To navigate the different rules that may apply we set out key considerations in 13 different jurisdictions in Europe. We identify the temporary relief that may be available in each jurisdiction for directors, but also highlight the key duties and responsibilities that apply when their businesses face acute financial distress.