The UK Government’s Bounce Back Loan Scheme was launched on 4 May 2020 and offered COVID-19 related business support to SMEs. Loans of up to £50,000 (or a maximum of 25% of annual turnover) were provided directly to businesses by commercial lenders. The scheme closed on 31 March 2021, with loans over £47 billion in value having been paid out.
The so-called “Wagatha Christie” dispute between Coleen Rooney and Rebekah Vardy has once again been brought into the limelight with testimony in the libel case wrapping up last week in the high court in London. Full of high-profile witnesses including the WAGs and their husbands, the trial lasted nine days and the Judge’s ruling is expected in the next couple of weeks.
MBM Commercial’s Dispute Resolution team have a long history of acting against large institutional lenders in matters relating to bank’s actions amid the 2008 recession and we have recently been involved in a number of cases involving banks calling up personal guarantees despite assurances that may have been given during COVID-19.
Disputes in business are inevitable. What is important, is that these can be resolved without any negative impact on the company.
No one can tell the future, but at this time of year we can indulge in some crystal ball gazing!
