It’s Time to Embrace “Lite” Restructuring Plans
In the throes of COVID-19, the UK’s Corporate Insolvency and Governance Act 2020 emerged as a beacon of hope for businesses grappling with unprecedented challenges. While giants like Virgin Atlantic and Pizza Express navigated through the storm with Restructuring Plans, smaller enterprises seemed to tread familiar paths, missing out on what could potentially be a lifeline, and saddling themselves with more debt.
The legislation does not limit the size or complexity of the business that should use Restructuring Plans, but it became practice that only the largest cases were using the procedure.
At Addleshaw Goddard, we’re pioneering a shift in mindset with our recent…