Skip to main content

+44 (0) 121 237 1130


Government announce a change to insolvency rules, accrued annual leave and AGM guidelines

Coronavirus/COVID-19 Update | Insights | Skadden, Arps, Slate ...

The UK government announced on Saturday new insolvency measures to prevent businesses unable to meet debts due to the impact of coronavirus from being forced to file for bankruptcy.

The move will allow directors of companies to pay staff and suppliers even if there are fears the company could become insolvent. Read more HERE

Also, Alok Sharma, the Business secretary reported that workers who had not taken all of their statutory annual leave entitlement due to COVID-19 would be able to carry it over into the next two leave years.  Read more HERE

Mr Sharma also announced that companies required to hold annual general meetings would be be able to do so flexibly in a matter compatible with public health guidance. This might include postponing or holding the AGM online, or by phone using only proxy voting.

Share this Post

Strictly Necessary

These cookies are required for our website to operate and include items such as whether or not to display this pop-up box or your session when logging in to the website. These cookies cannot be disabled.


We use 3rd party services such as Google Analytics to measure the performance of our website. This helps us tailor the site content to our visitors needs.


From time to time, we may use cookies to store key pieces of information to make our site easier for you to use. Examples of this are remembering selected form options to speed up future uses of them. These cookies are not necessary for the site to work, but may enhance the browsing experience.


We may use advertising services that include tracking beacons to allow us to target our visitors with specific adverts on other platforms such as search or social media. These cookies are not required but may improve the services we offer and promote.

Change Settings

Welcome. You can control how we use cookies and 3rd party services below

Change Settings Accept
Learn how we use cookies