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The three year review of CIGA (the Corporate Insolvency and Governance Act) published by the Insolvency Service suggests that we might see changes to the corporate moratorium process will these address concerns about the process and encourage more insolvency practitioners to recommend its use?
The moratorium aims to protect companies from enforcement action to give a struggling business opportunity to seek advice, negotiate with creditors and agree plans. In practice (partly due to the support measures from the Government that we saw during the pandemic) it has only been used by about 40 companies to date.
For the mos…
Read the full article at: https://www.natlawreview.com/article/expected-changes-to-uk-corporate-moratorium