Covid-19 has brought about much uncertainty for businesses worldwide and it is timely for a special edition of Going concerns to provide a “survival guide” in the following jurisdictions - Singapore, the People’s Republic of China (“PRC”), Hong Kong, United Kingdom and the United Arab Emirates (“UAE”). This special edition will also touch on recent legislation and stimulus packages introduced by governments of the above (where applicable) in response to the Covid-19 outbreak, which will impact both creditors and debtors.
Survival guide
- Know the players – Creditors and the statutory threshold for winding up
- Limit your exposure – Directors' liability
- Seek shelter – Possible restructuring options
- Be aware of your surroundings – Recent insolvency legislation and stimulus packages in response to COVID-19
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