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ARTICLE · 22 JUNE 2021

Debt Recovery In The Current Crisis

Giambrone
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The limited ability to trade due to the Covid-19 pandemic has resulted in many businesses sitting on outstanding invoices which their debtors are struggling to pay due to their considerably limited capacity to trade.

United KingdomFinance and Banking
Giambrone & Partners LLP
Giambrone & Partners LLP
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The limited ability to trade due to the Covid-19 pandemic has resulted in many businesses sitting on outstanding invoices which their debtors are struggling to pay due to their considerably limited capacity to trade.  In the case of cross-border European debt, enforcement has been made considerably more problematic for UK businesses due to Brexit and the loss of reciprocal enforcement of court orders across Europe, the pandemic can add another layer of complexity.

All businesses depend on adequate cash flow and non-payment of invoices inevitably causes problems.  In normal circumstances, most companies would look to the legal options and take a tough stance, particularly when feelings are high.  In the current challenging situation, it seems all the more imperative to obtain swift settlement of outstanding debts. However, measures have been put in place in the UK to offset any lockdown driven inadvertent breaches by directors of The Wrongful Trading Act 1986 and

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