On 25 May, the Insolvency Service published a consultation paper on options for reform of the UK’s corporate insolvency regime. Their impetus is for the UK to remain at the forefront of insolvency best practice to ensure businesses, investors and creditors remain confident that best outcomes can be achieved when faced with financial difficulty, and to give a company the best possible chance to restructure its debts and return to profitability while protecting employees and creditors.
Their suggestions include new provisions, for all entities who currently have access to the UK’s administration and company voluntary arrangement insolvency procedures to:
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create a new (single gateway) three-month moratorium against cr…Read the full article at: http://www.jdsupra.com/legalnews/a-review-of-the-corporate-insolvency-78754/