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.


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COVID-19 and Business Continuity Team

Photo of Michael Kavanagh

Michael Kavanagh

Chairman and Partner

mkavanagh@lkshields.ie
+ 353 1 637 1524

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Jill Callanan

Partner

jcallanan@lkshields.ie
+ 353 1 637 1551

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Andrew Power

Partner

apower@lkshields.ie
+353 1 638 5832

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Ruairí Mulrean

Partner

rmulrean@lkshields.ie
+ 353 1 638 5844

Photo of Patrick Ryan

Patrick Ryan

Partner

pryan@lkshields.ie
+353 1 6385892

Photo of Shane Neville

Shane Neville

Partner

sneville@lkshields.ie
+ 353 1 638 5853

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Elaine Hughes

Head of Company Secretarial and Compliance

ehughes@lkshields.ie
+353 1 6371529

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Einde O’Donnell

Associate Solicitor

eodonnell@lkshields.ie
+353 1 6385835

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