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COVID-19 Pandemic: Key UK Government and Bank of England Initiatives to Support Businesses

Client memorandum | April 15, 2020

On March 30, 2020, Fried Frank published a memorandum titled “COVID-19 Pandemic: Key UK Government and Bank of England Initiatives to Support Businesses.” In light of the rapidly developing situation and government response, this memorandum has been updated to include the latest guidance provided by the UK Government, in particular as to employment retention initiatives and loan schemes, and is current as of April 15, 2020. The updated memorandum summarizes the key initiatives and measures that have been introduced by the UK government and the Bank of England in response to the COVID-19 pandemic to support UK businesses as of April 15, 2020, including: (A) employment retention initiatives; (B) lending programs; (C) grants; (D) tax measures; (E) other measures to support the flow of credit; and (F) proposed changes to UK insolvency laws.

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