New Procedures & Measures are Coming...

New Procedures & Measures are Coming...

Posted: 26/06/2020 16:03

The Corporate Insolvency and Governance Act 2020 received Royal Assent last night and came into force at midnight. It is the largest change to the UK's corporate insolvency regime for over 20 years and introduces several new insolvency procedures, together with additional measures to deal with the current Covid-19 Pandemic and economic fallout.

Over the next few weeks I will be releasing several blogs dealing with these new procedures and measures individually. One of the key provisions is the introduction of the new role of a "Monitor” to oversee the moratorium period it introduces, which will allow companies an opportunity to have a breathing space from creditor action in order to try to rescue the company and this will be the subject of my first blog.