The authors had previously highlighted the UK Governments intention to introduce: (i) a number of reforms to the UKs insolvency framework; and (ii) a series of temporary changes to the corporate governance requirements for companies and other entities arising as a result of the impact ofCovid-19. In this QuickStudy, we set out the key features of the draft Corporate Insolvency and Governance Bill published on 20 May 2020 (the CIGB) in furtherance of the Governments stated aim to:
introduce new corporate restructuring tools to the insolvency and restructuring regime to give companies the breathing space and tools required to maximise their chance of survival;
temporarily suspend parts of insolvency law to support directors to continue t…
Read the full article at: https://www.jdsupra.com/legalnews/corporate-insolvency-and-governance-53033/