Latest by Sukh Ahark

Blog

Loan covenant disputes likely to impact almost all industry sectors unless lenders and investors work to find resolution

Published on 12 June 2020. By Sukh Ahark, Partner

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Loan covenant disputes caused by the coronavirus crisis are likely to impact almost all industry sectors in the coming year, unless lenders and investors work together to resolve problems caused by covenant breaches.

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New 100% government-backed loan scheme for small and medium-sized businesses

Published on 04 May 2020. By Sukh Ahark, Partner and Lauren Murphy, Associate

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The new 'Bounce Back Loans' scheme (the "Scheme") launches today. The Scheme provides small and medium-sized businesses with loans from between £2,000 and £50,000, such cash to be accessible within days.

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Future Fund

Published on 24 April 2020. By Sukh Ahark, Partner and Lauren Murphy, Associate

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The Chancellor has announced the launch of a £500m co-investment fund for start-ups adversely impacted by the coronavirus. The 'Future Fund' operates through the government matching private sector money with state-backed loans that can convert into equity stakes in the start-up.

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Future Fund

Published on 24 April 2020. By Sukh Ahark, Partner and Lauren Murphy, Associate

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The Chancellor has announced the launch of a £500m co-investment fund for start-ups adversely impacted by the coronavirus. The 'Future Fund' operates through the government matching private sector money with state-backed loans that can convert into equity stakes in the start-up.

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Regulator urges lenders to carefully consider their responses to borrower's potential breaches of covenants owing to COVID-19

Published on 20 April 2020. By Sukh Ahark, Partner and Lauren Murphy, Associate

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The PRA stressed in a 'Dear CEO Letter' that lenders should be flexible with regards to the breaches of covenants that might occur because of COVID-19. The PRA stated that breaches may arise owing to temporary changes to a borrowers' reported earnings, suspension of business or changes to the audit report attached to financial statements.

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The new Coronavirus Large Business Interruption Loan Scheme

Published on 09 April 2020. By Sukh Ahark, Partner and Lauren Murphy, Associate

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The Coronavirus Large Business Interruption Loan Scheme (CLBILS) is designed to allow larger businesses to access emergency funding and to give banks the confidence to lend to many more businesses which are impacted by coronavirus.

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Coronavirus Business Interruption Loan Scheme – attempts to address inaccessibility

Published on 08 April 2020. By Sukh Ahark, Partner and Lauren Murphy, Associate

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The UK Government has implemented changes to the Coronavirus Business Interruption Loan Scheme in recognition of barriers faced by SMEs attempting to access the scheme.

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