- Significant recent developments in the UK’s insolvency regime—a creditor’s perspective
- Corporate Insolvency and Governance Act 2020 (CIGA 2020)
- A new free-standing company moratorium process
- Distinguishing categories of debt
- Effect on creditors
- Extension of statutory controls on termination clauses in supply contracts
- Effect on creditors
- Limitations on the scope of IA 1986, s 233B
- Potential changes in market practice to adapt to the effects of IA 1986, s 233B
- A powerful new cross-class cram down mechanism
- Approval of restructuring plans
- Cross-class cram down
- Temporary restrictions on winding-up petitions
- Effect of the current restrictions
- The Coronavirus Test
- Winding-up petitions as a pressure tactic: the new Insolvency Practice Direction
- The new restrictions
- Effect of the pandemic on court proceedings
- Strategic considerations in insolvency-related disputes
- What analysis should be done by a would-be claimant before commencing a civil claim against a party in financial difficulty? What are the risks and how can they be mitigated?
- What is the impact of party insolvency before or during civil proceedings? What steps should a claimant take in such circumstances, including in the context of enforcement?
- What issues should be considered concerning the availability of interim relief against a party in financial difficulty, including as a means of protecting yourself against costs risk? For example, should applications for security for costs or a freezing order be considered?
- What are the alternatives to commencing civil proceedings against a party in financial difficulty?
Restructuring & Insolvency analysis: Oliver Humphrey, John Tillman and Danny Knowles from Hogan Lovells’ insolvency disputes practice in London discuss current trends and developments at the intersection between insolvency and dispute resolution, including a rundown of some of the latest legislative changes, and issues to consider when litigating against parties in financial distress.
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