Rescuing an Insolvent Company
19 July 2020
Deborah Kelly, Head of Corporate at EFC outlines steps that directors facing difficult financial times should take to protect themselves if they decide to continue to trade through the current pandemic. These include: holding regular board meetings and maintaining minutes of all decisions made at those meetings, ensure company books are kept up to date and scrutinised and processes for paying creditors. Decisions directors make to trade through must be on the basis that there is a reasonable prospect of survival for the business.