Tuesday, May 26, 2020
On 20 March 2020, the UK Government published itsCorporate Insolvency and Governance Bill(the CIGB). When enacted, the new legislation will see the most extensive reforms to the UKs restructuring and insolvency regime in more than 15 years.
The CIGB introduces both (a) permanent reforms and (b) temporary reforms specifically designed to ease the burden on companies and directors caused by the Covid-19 pandemic.
The CIGB has been presented to the UK Parliament and, given the pressure that businesses are facing due to the implications of the Covid-19 pandemic and the UK Governments focus on the preservation of UK businesses, it is expected that the Bill will be passed quickly. This alert seeks to outline the key meas…
Read the full article at: https://www.natlawreview.com/article/covid-19-new-uk-corporate-insolvency-and-restructuring-tools-and-reforms