Mark Raddan & Russell Crumpler, KMPG in association with the BVI Finance Breakfast Forum Series.
Mark Raddan & Russell Crumpler, KMPG in association with the BVI Finance Breakfast Forum.
KPMG’s Global Head of Turnaround, Mark Radden, and KPMG in the BVI’s Managing Director, Russell Crumpler, in association with BVI Finance, will be presenting via live webinar in association with the BVI Finance Breakfast Forum Series.
Date: Wednesday, 15 April 2020
Time: 10:00am - 11:30am
The Covid-19 (coronavirus) pandemic is causing challenges for governments, economies and individuals on an unprecedented scale. Globally we are anticipating that the economic effect will cause a deep recession (and realistically most countries are now already in contraction).
Whether that recession is V shaped, with a quick rebound as some of the more optimistic reports suggest, or it has a long slow recovery, remains to be seen. Regardless, economies across the world are already seeing the effect.
On a corporate level, factors such as curfews, a hiatus on new investments and purchases, liquidity issues across the board, and a general level of understandable anxiety amongst employees and owners alike, mean that the decisions executives make in the coming weeks and months will be crucial. If the wrong steps are taken, corporate failure may follow. Indeed, the harsh reality is that many businesses will fail regardless. The challenges faced by companies working in the islands' financial services sector economies will share similarities with those faced by manufacturing or retail companies in countries like the United Kingdom, but they will also be unique in other ways.
Mark Raddan, KPMG’s Global Head of Turnaround, and Russell Crumpler, who leads the KPMG BVI Advisory team and heads up KPMG’s restructuring presence in the islands' economies will be presenting a webinar on 15 April 2020 from 10:00am to 11:30am.
The webinar will focus on these challenges, and provide an overview of potential steps that directors and management should be considering, the protective measures they should take and some of the things that should perhaps be avoided.
A key part of this webinar will focus on liquidity – in times of crisis, when cash becomes one of the most important considerations. Mark and Russell will also touch on director’s duties, dealing with creditors, financing and other important considerations.