How to deal with your lenders during COVID-19 – The elbow tap! | Practical Law

How to deal with your lenders during COVID-19 – The elbow tap! | Practical Law

Managing your lenders during a financial crisis is critical. So what is best practice? How should a good business engage with its lenders in times of uncertainty and distress? This article looks at tips for engaging with your lenders, considers drawdown options and the safe harbour regime, and provides practical recommendations for management and boards when handling times of financial crisis.

How to deal with your lenders during COVID-19 – The elbow tap!

by Martin Coleman, Partner; Brenton Key, Partner; Kenneth Tang, Partner; James Marshall, Partner; Michael Sloan, Partner; Camilla Clemente, Partner and Jacqueline Chan, Senior Associate, Ashurst
Law stated as at 30 Mar 2020Australia
Managing your lenders during a financial crisis is critical. So what is best practice? How should a good business engage with its lenders in times of uncertainty and distress? This article looks at tips for engaging with your lenders, considers drawdown options and the safe harbour regime, and provides practical recommendations for management and boards when handling times of financial crisis.