As the country went into lockdown from March 2020, the government was rightly concerned with ensuring that support measures reached people and businesses in need as quickly as possible. This led to an unprecedented level of funds being made available using new schemes and mechanisms.
Moratoriums on enforcement action included protection for directors against liabilities for wrongful trading, protection from creditors issuing statutory demands, and restrictions on issuing winding up petitions. Furthermore, landlords have been unable to enforce a right of entry or forfeiture for non-payment of rent in certain business tenancies. These measures have resulted in a clear decline of new personal and corporate insolvencies. Compulsory liquidat…
Read the full article at: https://news.bloomberglaw.com/bankruptcy-law/u-k-insolvency-restrictions-lifting-hoping-for-best-preparing-for-worst
