Lenders and borrowers issues and solutions around COVID-19

Despite the Government’s emergency budgets, the provision of other assistance to businesses and the Bank of England cutting interest rates to 0.1%, a number of business sectors (retail, aviation, travel, hospitality and tourism) have seen massively reduced cash flows due to the impact of the COVID-19 pandemic. There is no doubt that both lenders and borrowers should review the loans that they have in place as no business will have budgeted for such reduced cash flows or market disruption.

What should each party be looking at and what solutions are available?

If you would like to discuss any of the issues raised in this blog please contact James McNeil.

Our page entitled “Coronavirus – Legal advice and guidance” is continually being updated with tips and guidance as and when updates are received from the government and other regulatory bodies.