FW: How have legal and regulatory frameworks evolved to support restructuring efforts?
Lawford: The Corporate Insolvency and Governance Act 2020 represented the most significant reform to UK insolvency law in over two decades. Most notably, it introduced the restructuring plan with its cross-class cram down power, enabling courts to sanction compromises even where certain creditor classes dissent, provided fairness conditions are met. Complementary measures include a standalone moratorium offering breathing space and restrictions on suppliers terminating contracts during restructuring. Post-Brexit, UK restructuring tools no longer benefit from automatic European Union (EU) recognition, requiring a case by case approach, relying on…