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ARTICLE · 27 MAY 2020

Pandemics And Pursuing Principled Practice: Avoiding The Pitfalls In Troubled Times

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As governments and economies respond to the macroeconomic impact of the latest global pandemic COVID-19, so too companies and individuals must respond to the microeconomic impact, ...

Cayman IslandsLitigation, Mediation & Arbitration
Conyers
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Róisín Liddy-Murphy
Róisín Liddy-Murphy
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As governments and economies respond to the macroeconomic impact of the latest global pandemic COVID-19, so too companies and individuals must respond to the microeconomic impact, making decisions that will affect both decision-makers and stakeholders alike.

During times of uncertainty, anxiety and financial pressures officers of a company making financial and operating decisions may enter into transactions that could ultimately become subject to claw-back claims in an insolvency situation or could find themselves digging into their own pockets to make contributions to the company's assets for its creditors.

The challenges facing directors who might be making choices about which creditors/suppliers to pay and decisions relating to production and ongoing operations is that they could later find those being viewed through a lens of insolvent trading.

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