The Situation: The economic crisis caused by COVID-19 has triggered an unprecedented response from European governments to support their economies with government-backed financial support....more
The economic crisis caused by the spread of the coronavirus triggered an unprecedented response from European governments to support their economies with various measures of support. This overview summarizes the various...more
On 27 April 2020, the UK Prudential Regulation Authority (“PRA”) published a statement (the “statement”) on whether the guarantees provided by the UK Government (through the British Business Bank) under the Coronavirus...more
Further to the Chancellor’s announcement on April 3, 2020, of the introduction of the Coronavirus Large Business Interruption Loan Scheme (CLBILS), the CLBILS that is aimed at larger U.K. businesses is now live and the...more
The UK government launched a new loan guarantee programme for UK businesses—the Coronavirus Large Business Interruption Loan Scheme (CLBILS)—intended to plug the gap by providing loan guarantees for medium and large...more
Earlier this month, we published a note outlining the key preliminary features of the UK Government-backed Coronavirus Large Business Interruption Loan Scheme (the "CLBILS"). Since then, and ahead of the CLBILS's launch on...more
It has been reported that the UK Treasury is considering a new bailout mechanism for privately held companies in sectors seen as making "a material contribution" to the UK economy, which would take the form of one or more...more
Further to the Chancellor's announcement on 3 April 2020 (which we covered in COVID-19 UK: Finance - Mind the Gap - Insight and COVID-19 UK: UPDATE: Finance - Mind the Gap - Insight), the U.K. Government officially launched...more
For further information, please visit the White & Case Coronavirus Resource Center. On 2 April, the Chancellor of the Exchequer announced a scheme aimed at providing support to the so-called "squeezed middle", which comprises...more
While the UK Government, for the most part, has been praised for taking quick, decisive action to limit the impact of the COVID 19 economic shock for consumers and some UK companies, the measures announced to date excluded a...more