The re-introduction of Crown preference and the resulting change in the order of priority of creditors on insolvency was announced as part of the Autumn budget in 2018, way before anyone had heard of Covid-19, and was originally due to come into force on 6 April 2020. It was delayed until 1 December 2020 in terms of the 2020 budget which was presented to Parliament on 11 March 2020, the same day as the World Health Organization declared the outbreak of Covid-19 to be a pandemic.
With a second lockdown in England commencing today and the devolved administrations all recently introducing their own new restrictions, it remains to be seen whether the new measures will be delayed further. As thing…
Read the full article at: https://www.scottishlegal.com/article/louise-laing-the-return-of-crown-preference-is-the-time-right-to-change-the-order-of-priority