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Insolvency Service publishes CIGA 2020 Final Evaluation Report November 2022

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Published on: 19 December 2022

Published by LNB News

LNB News 19/12/2022

Document Information

Issue Date: 19 December 2022

Published Date: 19 December 2022

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Insolvency Service has published the Corporate Insolvency and Governance Act 2020 (CIGA 2020) final evaluation report which found that the Restructuring Plan (RP) continues to satisfy its policy objectives consistently with the Interim Report from June 2022. The report reveals greater ambiguity regarding the moratorium, such as the lack of a payment holiday in relation to financial creditors and also highlights the suspension of Termination (ipso facto) clauses in section 233B of the Insolvency Act 1986 (IA 1986) as a valuable corporate rescue tool.

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