Do voluntary redundancies count as a dismissal?

No. This bill relates to corporate insolvencies only. Should you require any advice as to personal insolvency situations, please contact our team.

The Vice President of the COP, Mr Justice Hayden, has issued guidance to assist parties during this challenging time.

The latest guidance with all relevant updates on developments is available on the judiciary website here.

Initially, the relaxation applied to supermarkets and food suppliers. This was subsequently widened to apply to other businesses, permitting them to collaborate where necessary to respond to the crisis in the interests of consumers.

Lenders implementing the Scheme can assist in a number of ways, including:

• Term loans
• Overdrafts
• Invoice finance
• Asset finance facilities

The maximum value available under the scheme is £5m, with repayment terms of up to six years for term loans and asset finance. Overdrafts and invoice finance facilities will be available for up to three years.

A common feature of corporate acquisitions is that part of the consideration is paid on deferred terms or by way of earn out over a period of years following completion. Where deferred consideration is payable, this is either on the basis that outstanding payments will be made on scheduled dates or, less usually, subject to certain agreed (typically financial) objectives being met. These objectives almost always relate to a period before completion of the deal and are dealt with as part of a completion accounts mechanism.