The following Restructuring & Insolvency practice note provides comprehensive and up to date legal information covering:
Restructuring and insolvency covers a variety of different processes and tools designed to achieve different objectives, from rescuing a distressed business to achieving the best outcome for creditors to helping individuals achieve a clean break from their debts. There are a number of different parties involved including the financially-troubled company or individual, the lender seeking to recover its money, the insolvency practitioner (IP) in charge of the insolvency process, not to mention the advisors engaged by the different parties.
This guide is designed to give you an introduction to the different insolvency processes and point you in the direction of the relevant materials where you can find out more. It also contains links to help you make the most of our restructuring and insolvency materials including how to sign up for daily or weekly email alerts.
The Corporate Governance and Insolvency Act 2020 (CIGA 2020), which represents the biggest change to the UK’s insolvency framework in 20 years, came into force on 26 June 2020. The overarching objective of CIGA 2020 is to provide businesses with the flexibility and breathing space they need to continue trading during the coronavirus (COVID-19) pandemic. The measures are designed to help UK companies and other similar entities by easing the burden on businesses and helping them avoid
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