The UK government has extended its suspension of various rules and procedures affecting distressed businesses as a result of the coronavirus (COVID-19) pandemic. However, with the UK lockdown easing on a rolling basis up to...more
EXECUTIVE SUMMARY - R3 Association of Business Recovery Professionals (R3), a trade association for the United Kingdom’s insolvency and restructuring industry, has launched a standard form proposal (Standard Form) for company...more
The United Kingdom Department for Business, Energy and Industrial Strategy has announced that certain temporary measures put in place under the Corporate Insolvency and Governance Act 2020 (CIGA), which became law on 26 June...more
Executive Summary - New legislation will introduce permanent and temporary reforms to the UK restructuring and insolvency regime....more
SUMMARY AND KEY TAKEAWAYS - Light touch administration is intended to allow Administration to be used as a true rescue tool in a manner similar to Chapter 11 in the United States. Administrators appoint the incumbent board to...more
The UK Government announced on Saturday 28 March 2020 that it intends to amend UK insolvency law to suspend the offence of wrongful trading by directors of UK companies and to give UK companies the breathing space to allow...more