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Cash flow and Coronavirus

As the economy starts to reopen many businesses are turning their attention to what business looks like going forward, and how best to implement strategies to ensure that it can emerge from this pandemic in a strong position. In advising our clients during this pandemic one asset consistently appears at the forefront of any strategic planning: cash.

The old proverb ‘cash is king’ has never been more relevant and we are finding more and more that we are advising clients on how best to increase their cash flow by implementing a number of legal driven solutions.

We are providing assistance to our clients in understanding their legal rights and remedies as well as implementing and adopting a number of measures to improve cash flow.

Our team of expert commercial lawyers have been advising on:

  • The review and amendment of terms and conditions to realise assets and invoices quicker.
  • Reviewing supplier contracts and terms of payment to ascertain whether the contracts can be renegotiated to a more favourable position.
  • Reviewing aged debt, debtor status and implementing a recovery strategy that aligns with the business’ core values.
  • Drafting and advising upon settlement agreements and employment related issues, including furlough agreements and redundancy.
  • Advising on potential disputes arising from business interruption insurance.
  • Advising on disputes relating to non-performance of contracts and force majeure.

In addition, our commercial property team have been advising investor, developer, landlord and tenant clients on:

  • Negotiating and agreeing temporary reductions in rent or rent payment holidays.
  • Advising on landlord and tenant covenants in leases and ensuring breaches are remedied to the satisfaction of both parties.
  • Rent and service charge arrears recovery.
  • Postponing existing deeds or renegotiating heads of terms on sales, purchases and leases.
  • Option agreements both for landlords and developers.

If you are experiencing issues and feel you could benefit from legal advice please do get in touch with us. We appreciate that times are difficult and we are therefore offering a no obligation, free 30 minute advice session so we can better understand your business’ needs and discuss the solutions that we can assist you with.

Written by James Leighton

James is a solicitor in the firm’s commercial department and undertakes a wide range of contentious and non-contentious work.

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