Specifically, the suspension of the provisions around wrongful trading will be over and creditors can once again seek to put companies who owe them money into liquidation.
The end of protections has already been delayed numerous times. The UK Government is undoubtedly concerned that ending the protections all at once will lead to a real economic shock. For that reason, further extensions can’t be ruled out, but we do know that the protections are not going to last forever and, when they end, businesses will have to adapt quickly.
Directors need be to asking now, are we prepared?
Read the full article at: https://www.scotsman.com/business/what-directors-need-to-think-about-as-protections-to-prevent-insolvency-wind-down-nicola-ross-3379414
