Insolvency & Charities - The Key Issues & Options
Charities are subject to the insolvency regime just as much as commercial trading entities.
The difference is that they do not exist to make a profit for shareholders but instead use donations and profits from trading subsidiaries to further the purposes of the charity.
This fundamental difference impacts on the options available to charities when faced with financial difficulties.
Cases reporting on the insolvency of charities are thankfully not that common but it takes just one high profile case to hit the headlines, such as the Kids Company liquidation, to focus the minds of trustees as to the extent and impact of the responsibilities placed on them under the Insolvency Act 1986.
This new webinar will consider the implications for charities and their trustees when facing financial difficulties.
What You Will Learn
This webinar will cover the following:
- What it means to be insolvent
- Charity Commission guidance on managing a charity in financial difficulty
- Trustee duties and personal liabilities
- Options for charities before insolvency
- Insolvency procedures explained
- The impact of the Corporate Insolvency and Governance Act 2020
This webinar was recorded on 23rd April 2021
at your organisation