COVID-19: Board Business in Northern Ireland: What first? Doing it differently? What else?
COVID-19 is having an unprecedented impact on companies in all sectors.
In our latest publication we look at some immediate priorities for company Boards as the disruptive effect of COVID-19 intensifies.
We focus here on the legal aspects of three key areas of Board Business:
- Firstly, capital and liquidity management with the objective of underpinning the financial position of your company.
- Secondly, the challenges faced by your Board in terms of how, and on what basis, decisions are made at a time of social isolation and uncertain information.
- Thirdly, some of the immediate operational issues and risks including employer considerations, current contractual arrangements, data protection, cyber security and insurance.
The plethora of new financial policies introduced by the Government will be of assistance to a number of companies, including the Coronavirus Business Interruption Loan Scheme offering Government guaranteed loans of up to £5 million for SMEs through the British Business Bank and the new lending facility from the Bank of England under its Covid Corporate Financing Facility; however Boards must act quickly and decisively to address the issues outlined above.
The situation is extremely fluid and we will be frequently publishing updates on material developments.
If there are any other issues relating to the impact of COVID-19 which you would like to see dealt with in future editions, please contact any member of our team.
Date published: 31 March 2020