Guide to UK company directors' duties under threat of insolvency

The profound business and market interruption already caused by the Covid-19 outbreak has been exacerbated by the impact of Brexit, the cost-of-living crisis and ongoing economic uncertainty in 2022. These combined factors have introduced insolvency risks for many otherwise healthy businesses.

This guide summarises the key concerns for boards facing those risks - either directly, or within their customer and supplier networks.

We look at questions such as:

• Why is it important to know when a company is (or might be) insolvent and what should the board do next?
• How can directors ensure that they are acting in accordance with their duties?
• Can a company continue to trade if it is (or may be) insolvent?
• What practical steps should a board take during this time?

For the latest legal insight into these issues and more, plus some practical advice on what to do now, please download our guide.

If you'd like to discuss any of these matters, please contact a member of the team.

This publication is intended for general guidance and represents our understanding of the relevant law and practice as at November 2022. Specific advice should be sought for specific cases. For more information see our terms & conditions.