The consultation ran between May and July and looked at four broad areas. These were: introducing a moratorium for distressed businesses to benefit from protection against legal action while considering their options for rescue; widening the definition of essential supplies; developing a new restructuring plan would enable (for the first time in the UK) a cram down of classes of dissenting creditors; and increasing the availability of rescue finance.
The Insolvency Service says two thirds (67%) of respondents agreed in principle that the introduction of a pre-insolvency temporary moratorium would facilitate business rescue. A similar proportion saw filing to court to obtain a moratorium as the most efficient way in which a business could …
Read the full article at: https://www.cchdaily.co.uk/plans-temporary-moratorium-corporate-insolvency-regime
