As the focus on ESG issues intensifies in the financial markets, we have seen institutional investors demand more in these areas, in terms of both disclosures and concrete targets, from banks and funds. Meanwhile, emerging regulations, and reforms designed to help meet climate change targets and to enhance corporate governance, sustainability and environmental and social responsibility are underway. How will refinancings and restructurings of the significant amount of corporate debt coming out of COVID be affected by such winds of change?

Two directors from the UK were disqualified for 12 years each after they used funds from existing clients to payback previous clients. The directors' company entered into loan agreements with existing clients worth around £9.1 million for forex trades, in return for interest and loan repayments. The Insolvency Service later discovered that at least £8.4 million was used to make interest and loan repayments to previous clients.

So you have a freezing order against a start-up company, now what? Can that start-up use the assets which are the subject of your order, or any of its other assets, to continue to pursue its risky business, or must it stay idle and wait for the inevitable?