19 Jan 2023
With the current economic difficulties affecting the tech sector, a number of companies who took Future Fund investment during the pandemic have been faced with the following realities:
- The business had not developed as the stakeholders had hoped
- Money is running out and the board members are very aware of their director duties and want to protect their creditors
- They are also concerned about public reputation in the event of insolvency
- They are consulting with creditors about potentially agreeing a partial debt write off in order that the company can be wound up on a solvent basis
- The Future Fund has not responded/are able to agree to the request
- The board is therefore concerned about potentially preferring the Future F…
Read the full article at: https://www.foxwilliams.com/2023/01/19/tech-companies-future-fund-investment-and-the-prospect-of-insolvency-what-company-directors-can-do/