Edwin Coe LLP (England-Wales): Directors: You Still Have Duties

Following the recent announcement by the Government that it proposes to amend UK insolvency law in the wake of the economic issues arising from the coronavirus pandemic, we are now seeing reports that the major banks have agreed to suspend dividend payments following a request by the Bank of England. Most of the big banks appear to have agreed to this, which is a sensible step, not least from a PR perspective – it would be difficult for banks to justify paying billions out to shareholders at a time of national crisis, particularly when many businesses around the country are struggling to come to terms with the financial impact of the virus. MORE.

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