COVID-19
LK Shields - COVID-19 And Business Continuity
An unforeseen business interruption, such as inclement weather and environmental events or a new strain of Coronavirus, can leave business owners and employers scrambling for a contingency plan. To avoid profit loss and ensure continuous operation, all businesses must have solid measures and plans in place for sudden business interruptions.
Business interruptions come in many forms. Volcanic ash or air traffic control strikes may hinder business travel and networking events. Force majeure might overrule existing contractual obligations. Most recently, the outbreak of Coronavirus, or COVID-19, has posed challenges to daily business operations across the globe and uprooted existing workplace practices.
What all of these events have in common is the uncertainty they pose to business owners, employers and human resources professionals as they try to effectively manage the situation, minimise losses, protect staff wellbeing and proceed with business as usual.
Some of the issues and challenges which business owners will face and need to address during these unforeseen events include:
Adhering to contractual obligations | Frustration of contracts |
Retention-of-title-claims | Supply chain issues |
Business interruption claims under insurance policies | Breach of financial covenants |
Requirement to restructure the business | Insolvency procedures |
Risk of trading while insolvent | Obligations to employees |
Adherence to directors' duties | Dealing with creditors and debtors |
Refinancing requirements | Landlord-and-tenant issues |
So, what should you do if an unforeseen event knocks your business off-kilter?
The LK Shields cross-disciplinary business crisis advisory team are available to provide practical advice and legal insights to employers, business owners, directors, insurance providers, compliance officers, HR professionals and decision-makers faced with a crisis.
If you would like to discuss this further, please contact crisis-advisory@lkshields.ie or any member of our business crisis advisory team.
TO SUBSCRIBE TO OUR CRISIS ADVISORY NEWS AND INSIGHTS PLEASE CLICK HERE.
Business Continuity Planning Checklist from the Department of Business, Enterprise and Innovation
COVID-19 and Business Continuity related News & Insights
RETENTION OF TITLE CLAUSES IN THE CONTEXT OF THE COVID-19 CRISIS
by Jill Callanan, Clare Dowling
RESPONDING TO DATA SUBJECT ACCESS REQUESTS DURING THE COVID-19 CRISIS
by Jeanne Kelly
HOW THE COVID-19 PANDEMIC IS AFFECTING THE ADMINISTRATION OF JUSTICE IN IRELAND
by Grace Toher, Shane Neville
CONVEYANCING CONSIDERATIONS DURING THE COVID-19 CRISIS
by Elaine O’Connor
QUESTIONS DIRECTORS OF REGULATED FUNDS SHOULD ASK DURING TIMES OF MARKET TURBULENCE
by David Naughton
COVID-19: BUSINESS CONTINUITY AND RISK MANAGEMENT
by Joanne Griffin
COVID-19: PLANNING AND PROPERTY MEASURES IMPLEMENTED BY THE GOVERNMENT
by Elaine O’Connor, Patrick Ryan
CAN WE RELY ON FORCE MAJEURE BECAUSE OF COVID-19?
by Jane O’Grady
COVID-19: ESTATE PLANNING CONSIDERATIONS AND MAKING A WILL
by Patrick Ryan
COVID-19: TEMPORARY WAGE SUBSIDY SCHEME
by Einde O’Donnell
CONSTRUCTION CONTRACTS ADJUDICATION SERVICE NOT PROCESSING APPLICATIONS DUE TO COVID-19
The Department of Business, Enterprise and Innovation has advised that, in light of the latest announcements issued by the...
RESS AND COVID-19: THE DEADLINE FOR BIDS EXTENDED
by Philip Daly
COVID-19: SUPPLY CHAIN MANAGEMENT
by Joanne Griffin
COVID-19: RESTRUCTURING OF COMPANY DEBT
by Jill Callanan, Clare Dowling, Redmond Arigho
COVID-19: DO ISSUERS OF DEBT SECURITIES HAVE ANYTHING TO DISCLOSE?
by Garry Wynne
BUSINESS CONTINUITY: THE BENEFITS OF OUTSOURCING YOUR COMPANY SECRETARY
by Elaine Hughes, Colm Hanley
COVID-19: STRATEGIES FOR EMPLOYERS COPING WITH A TEMPORARY DOWNTURN IN BUSINESS
by Elizabeth Mara
IMPORTANCE NOTICE REGARDING APOSTILLING AND LEGALISING DOCUMENTS IN IRELAND
The Department of Foreign Affairs (“DFA”) has advised that, as a result of the COVID-19 pandemic, the authentications...
M&A TRANSACTIONS DURING THE COVID-19 CRISIS
by Jennifer McGuire, James Byrne
COVID-19: COMMERCIAL LEASE CONSIDERATIONS
by Patrick Ryan
FRUSTRATION OF CONTRACTS IN THE CONTEXT OF THE COVID-19 PANDEMIC
by Jill Callanan, Clare Dowling
COVID-19 AND CONSTRUCTION: DEFINING THE “NEW NORMAL”
by Jamie Ritchie
COVID-19: DELEGATION OF AUTHORITY BY DIRECTORS THROUGH WRITTEN RESOLUTIONS
by Richard Curran, Paul Dineen
COMPETING WITH COVID-19: COMPETITION LAW DURING THE COVID-19 OUTBREAK
by Marco Hickey, Emma Creaven
IRISH COMPANIES TAKE NOTE: ANNUAL RETURN DEADLINES EXTENDED DUE TO COVID-19
The Companies Registration Office (“CRO”) have advised Irish companies that all annual returns due to be filed by...
COVID-19 AND CORPORATE GOVERNANCE
by Elaine Hughes
COVID-19: PLANNING FOR YOUR AGM
by Elaine Hughes
COVID-19 AND BUSINESS CONTINUITY: A MESSAGE FROM OUR MANAGING PARTNER
At LK Shields, first and foremost, our concern is for the health, well-being and prosperity of our clients, colleagues and...
COVID-19: INSURANCE CONSIDERATIONS
by Ian Lavelle, Shane Neville
COVID-19: WHAT COMPANIES NEED TO KNOW TO REDUCE INSOLVENCY RISK
by Jill Callanan, Clare Dowling
CORONAVIRUS: FINANCIAL SUPPORT FOR IRISH BUSINESSES
by Andrew Power
CORONAVIRUS AND BUSINESS INTERRUPTION: DATA PRIVACY AND COMPLIANCE CHALLENGES
by Tanya Moeller, Peter Bolger, Jeanne Kelly
CORONAVIRUS: HOW EMPLOYERS CAN PREPARE FOR POTENTIAL CHALLENGES
by Elizabeth Mara, Aoife Bradley
Source: https://www.lkshields.ie/news-insights/special-insights/covid-19-and-business-interruptions
