Insovency: Coronavirus

Department for Business, Energy and Industrial Strategy written question – answered on 26th March 2020.

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Photo of Martyn Day Martyn Day Shadow SNP Spokesperson (Public Health and Primary Care)

To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will suspend wrongful trading laws during the covid-19 outbreak.

Photo of Paul Scully Paul Scully Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy), Minister of State (London)

Holding answer received on 25 March 2020

The Government recognises the difficulties faced by directors in making decisions about the future viability of their companies in these times of extreme uncertainty, and that the wrongful trading provisions impact on those decisions. The Government is urgently considering a range of measures which aim to help businesses wherever possible where the Covid-19 outbreak is the cause of their financial difficulties.

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