New EU regulations mean directors of financially stressed companies must have regard to the interests of creditors, writes Ian Barrett, Managing Director in KPMG’s Restructuring Team.
Recently, there has been much commentary on the prospect of a large increase in company insolvency arising from the Covid-19 pandemic, along with an increasingly turbulent macroeconomic environment. The level of insolvencies since the onset of the pandemic in March 2020 has been widely described as artificially low. A high volume of corporate insolvencies has been avoided due to various government supports, tax warehousing and creditor forbearance.
Since these supports have ended, businesses across a number of different sectors are also facing complex ch…
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