Thu, 09 Sep 2021 | BUSINESS NEWS
The Insolvency Service has announced that temporary measures introduced last year to help viable businesses avoid being forced into unnecessary insolvency during the COVID-19 pandemic will be phased out from October 1. The end of the previous legislation will occur alongside the introduction of new measures to help businesses recover.
The Corporate Insolvency and Governance Act, which came into force in June 2020, introduced several temporary measures designed to help businesses through the COVID-19 crisis. These included temporary changes to prevent statutory demands and winding up petitions, as well as the suspension of wrongful trading provisions.
During the COVID-19 pandemic, measures such as th…
Read the full article at: https://www.business-sale.com/news/business-news/government-to-end-temporary-insolvency-measures-222070
