Bloomsbury Professional Law Insight - Corporate Insolvency and Governance Act 2020

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Mr Simon Beale Paul Keddie

Bloomsbury Professional Law Insight - Corporate Insolvency and Governance Act 2020

Mr Simon Beale, Paul Keddie, Mr Tim Bromley-White

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English

Bloomsbury Professional
12 February 2021

Corporate governance & responsibilities; Company law; Bankruptcy & insolvency

Series: Bloomsbury Professional Law Insights

Having gone through an accelerated parliamentary process, the Corporate Insolvency and Governance Act 2020 came into force on 26 June, 2020 having been given Royal Assent on the 25 June, 2020.

It introduces the most significant changes in corporate insolvency law for nearly 20 years and has been introduced in response to COVID-19. Its main aim is to assist companies and directors by providing businesses with the flexibility and breathing space they need to continue trading during the difficult time caused by COVID-19.

The key insolvency related reforms included in the Act are:

- New moratorium outside of a formal insolvency process - New restructuring plan - Prohibition on issuing statutory demands and winding up petitions in connection with Covid-19 related debts - Retrospective suspension of wrongful trading - Protection of supplies of goods and services

This title is included in Bloomsbury Professional's Insolvency Law online service.

By: Mr Simon Beale, Paul Keddie, Mr Tim Bromley-White
Imprint: Bloomsbury Professional
Country of Publication: United Kingdom
Dimensions: Height: 210mm, Width: 297mm,
Weight: 318g
ISBN: 9781526517081
ISBN 10: 1526517086
Series: Bloomsbury Professional Law Insights
Pages: 112
Publication Date: 12 February 2021
Audience: Professional and scholarly , Undergraduate
Format: Paperback
Publisher's Status: Active

Chapter 1: Introduction WHAT NEW PROVISONS HAVE BEEN INTRODUCED? WHAT HAS BEEN THE REACTION TO THE PERMANENT CHANGES? Chapter 2: Moratorium INTRODUCTION WHICH COMPANIES WILL BE ELIGIBLE FOR A MORATORIUM? HOW CAN A COMPANY OBTAIN A MORATORIUM? WHAT IS THE EFFECT OF A MORATORIUM? THE MONITOR WHAT IS THE DURATION OF A MORATORIUM? CHALLENGES IN CONNECTION WITH A MORATORIUM INSOLVENCY PROCEDURES FOLLOWING A MORATORIUM AND SUPER-PRIORITY Chapter 3: Restructuring plan INTRODUCTION WHEN WILL A COMPANY BE ELIGIBLE FOR A RESTRUCTURING PLAN? WHAT MUST A RESTUCTURING PLAN BE DESIGNED TO ACHIEVE? WHAT IS THE PROCEDURE FOR ADOPTING A RESTRUCTURING PLAN? WHICH STAKEHOLDERS VOTE ON THE RESTRUCTURING PLAN? THE CONVENING HEARING CLASS COMPOSITION ISSUES THE NOTICES OF MEETINGS THE MEETINGS THE SANCTION HEARING THE ORDER MADE AT THE SANCTION HEARING FOREIGN COMPANIES AND STAKEHOLDERS PENSION SCHEMES Chapter 4: Restrictions on the termination of supply contracts INTRODUCTION THE PRE-CIGA 2020 REGIME THE CHANGES INTRODUCED BY CIGA 2020 WHAT RESTRICTIONS WILL BE IMPOSED? HOW WILL THE NEW PROVISIONS WORK IN PRACTICE? Chapter 5: Temporary provisions ADMINISTRATION: SALES TO CONNECTED PERSONS SUSPENSION OF LIABILITY FOR WRONGFUL TRADING SUSPENSION IN RELATION TO WINDING-UP PETITIONS REGULATIONS TO AMEND LEGISLATION

Simon Beale is the Head of the insolvency practice at Mcfarlanes. He has more than 22 years’ experience of advising on corporate restructuring and recovery issues. Simon acts for troubled companies, their directors and shareholders and for the major financial creditors of such entities. His clients also include distressed debt investors, insolvency officeholders and a variety of other parties with an interest, or potential interest, in the troubled company’s business. Simon is the co-author of the Insolvency and Restructuring Manual published by Bloomsbury Professional.

Reviews for Bloomsbury Professional Law Insight - Corporate Insolvency and Governance Act 2020

This is a welcome publication...It provides a valuable (and cost effective) addition to the library of any insolvency practitioner. * Insolvency Intelligence *