The Insolvency Service has recently published its interim report (the “Report“) which considers the three permanent measures that were introduced pursuant to the Corporate Insolvency and Governance Act 2020 (“CIGA“). For further details on the temporary and permanent measures introduced pursuant to CIGA, see our previous update.
The report looks at the implementation of the following measures:
- the restructuring plan under Part 26A of the Companies Act 2006 (the “Companies Act“);
- the standalone moratorium under Part A1 of the Insolvency Act 1986 (the “Act“); and
- the restriction on ipso facto termination clauses under s.233B of the Act.
On the whole, the measures have been broadly…