On 26 March 2021, the Government passed the CIGA 2020 (Coronavirus) (Extensions of Relevant Period) Regulations 2021 (Regulations), extending some of the temporary relief measures under the Corporate Insolvency and Governance Act 2020 (CIGA 2020) until 30 June 2021.
The Regulations bring further relief to companies, directors, and businesses, who would otherwise have faced a tsunami of winding up petitions, action for wrongful trading and re-commencement of insolvency procedures after 31March 2020. Applicable across the whole of the UK, these Regulations aim to provide additional support to the cash strapped businesses on the brink of being declared insolvent. The Government has declared this extension in a bid to give a definitive bo…
Read the full article at: https://www.ibblaw.co.uk/insights/uk-corporate-insolvency-and-governance-act-covid-19-measures-extended-what-does-this-means-for-companies-and-directors