COVID-19: Corporate Insolvency and Governance Bill
June 04, 2020
The Government published its Corporate Insolvency and Governance Bill on 20 May 2020, which will implement the most significant reform to the UK’s insolvency framework in decades. In addition to permanent landmark changes, including introducing a business rescue moratorium and new restructuring plan, the Bill contains a number of temporary measures to help businesses respond to the COVID-19 crisis.
The Government intends to fast-track these reforms through Parliament to reinvigorate the UK's world-leading insolvency regime and help alleviate the pressure on companies arising from COVID-19. Whilst the timing for implementation is currently unclear, we anticipate that this new framework may be enacted as soon as June 2020.
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