Company responsibilities during the Covid-19 pandemic
The UK Government has put in place substantial measures to help mitigate the devastating effect of Coronavirus (Covid-19) on the economy. During this lockdown period, and economic downturn, company directors are trying to comply with the government’s measures, as well as satisfying their own obligations to the company. Directors are concerned about fulfilling their responsibilities, acting with reasonable care, and in the best interests of the company, as required by the Companies Act 2006. However, during these unprecedented times, the directors’ decision mechanism is usually dependent on two vital questions:…