Building on previous insolvency reforms, the UKs Corporate Governance and Insolvency Act 2020 has gone into effect. Our Finance Group explain how blending temporary measures to deal with the COVID-19 pandemic with permanent changes means the Act fundamentally reforms UK insolvency law.
- Directors receive temporary respite from liability and maintain control during insolvency
- A new restructuring plan that avoids a value destructive liquidation process
- New corporate governance measures for general meetings
In an update to our previous advisory on the UK governments changes to insolvency law in response to the ongoing COVID-19 crisis, the government has now announced a further shakeup to the insolvency regime in an effort to prevent other…
Read the full article at: https://www.jdsupra.com/legalnews/covid-19-update-what-your-business-14853/?