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Significant recent developments in the UK’s insolvency regime—a creditor’s perspective

Published on: 27 September 2021

Published by: LexisPSL

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

More...

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?

Article summary

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. Sign in or take a trial to read the full analysis.

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Article summary

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Legal News

Significant recent developments in the UK’s insolvency regime—a creditor’s perspective

Article summary

Popular documents

Rescission of a contract

The Standard Conditions of Sale (5th edition: 2018 revision)—a guide to the main provisions

Judicial review—time limits and the pre-action protocol

What is a public authority?

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