Dear Clients and Friends of the Firm
These are challenging times, affecting almost all industries simultaneously, regardless of geography.
The team at Support Legal are here to help you – and we wanted to let you know that we are available at this difficult time to assist with any legal needs as required. We also appreciate and acknowledge that liquidity might be scarce and that’s why we have put in place a range of generous payment solutions to help clients as they work to keep their businesses afloat.
When Support Legal was established three years ago, it was built on the back of an agile model, that provided clients access to senior top-tier experienced lawyers on cost effective terms. With our model and world class talent being our core market differentiators, we want to reiterate that we truly are partners in your business for the long term – and therefore we wanted to offer help to you through these challenging times in the most cost effective manner possible.
In terms of recent market feedback, we have been fielding a lot of calls asking for help on urgent matters which are falling primarily into the following categories:
- “force majeure” advice (i.e. how to suspend obligations under a contract due to events outside of the parties’ control)
- employment advice (reduced work week/hour policies, work from home policies, redundancy programmes and salary/benefit reductions)
- mergers & acquisitions (distressed and strategic)
- restructuring advice (including creditor workouts and putting payment plans and alternative financing arrangements in place)
- rent re-negotiations with landlords
- construction and supply contract reviews
- long term incentive plans for employees, advisers and consultants (as an inducement to take reduced salaries or fees)
- fiduciary duties of directors (with specific reference to when/if companies need to declare bankruptcy/insolvency)
- corporate governance during times of crisis (i.e. workforce communications, duties of care and policy alignment)
- pre-litigation advice/demand letters/deferred loan agreements for collection of outstanding debts
- renegotiating service agreements to grant relief against agreed obligations
- bridge financing/venture debt
We can assist with any of the matters above, as well as other legal advice and support you may need. If you’d like to discuss how we can help you and your business as we all move into an extremely challenging Q2 environment, please get in touch.