On 20 March 2018, the Department for Business, Energy and Industrial Strategy (BEIS) published a consultation document on insolvency and corporate governance, which sought views on proposals to improve the governance of companies when they are in or approaching insolvency.
The consultation document went on to explain that the intention is to reduce the risk of major company failures occurring through shortcomings of governance or stewardship, and to strengthen the responsibilities of directors of firms when they are in or approaching insolvency.
The consultation, which closed on 11 June, focussed on four principle areas:
* Sales of businesses in distress, where it was proposed that, in order to deter directors of a parent company from…
Read the full article at: https://www.financialdirector.co.uk/2018/07/03/the-changing-insolvency-landscape/
