The markets indicate that a recession is possible as companies continue to face pressure in the breakdown of international supply chains, disruptions to manufacturing, cash flow issues and labour shortages.

Companies will need to consider their obligations in response to government announcements, business disruptions and other commercial risks arising from the Corona crisis, such as options available under their contracts, including force majeure.

As the problems for companies continue to mount so does the insolvency risk for companies. Where a company fails, or is at risk of failing, to meet its contractual obligations the risks of an insolvency event become more acute.