UK government revealed the Corporate Insolvency and Governance Bill on 20 May. The Bill follows the lead…
Further to our last update on prospective changes to the UK insolvency regime in light of COVID-19, the UK government revealed the Corporate Insolvency and Governance Bill on 20 May. The Bill follows the lead of several other jurisdictions including the Netherlands, Hong Kong, Spain, Australia and Germany in introducing such emergency measures and includes perhaps some of the most significant reforms to the UK insolvency regime since The Enterprise Act 2002.
The Bill introduces a number of both temporary and permanent changes as follows:
Temporary changes
- Wrongful Trading: wrongful trading sanctions are temporarily suspendedfro…
Read the full article at: https://iclg.com/briefing/13431-corporate-insolvency-and-governance-bill-behind-the-detail
