The enactment of the new Corporate Insolvency and Governance (CIG) Actinto law on 26 June 2020 will have significant impact on the restructuring of distressed companies, and in particular those affected by the coronavirus pandemic. This will have a knock-on impact on the way DB pension schemes are funded and influence the actions trustees can and should take.
The CIG Act and pension scheme trustees
The Corporate Insolvency and Governance Act brings the most significant change to UK restructuring and insolvency practice since the Enterprise Act of 2003.
The purpose of the Act is to provide relief to companies managing the impact of the coronavirus pandemic. It combines a temporary relaxation of some insolvency laws to provide companies w…
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