While the seismic changes caused by the EU Referendum vote are quite rightly uppermost in retailers minds, the UK Insolvency Service has issued a consultation document reviewing the UK corporate insolvency framework. It is a response to consistent messages from the World Bank which recently put the UK at number 13 in a league table measuring the efficiency of insolvency practices (well behind the USA, Japan and Germany). We have not changed our insolvency laws radically since 1986 and the UK government wants to promote more corporate rescues of viable businesses.

There are four key parts to the consultation:

• Creating a moratorium, for three months or more, protecting the company from creditor actions and enforcement of rights.
• Helpin…

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