Coronavirus (COVID-19)

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Background

The coronavirus (COVID-19) pandemic has had, and continues to have, a significant impact on the UK economy and a large number of restructuring and insolvency professionals will be involved in advising clients on its impact. This subtopic aims to bring together news and other resources to assist restructuring and insolvency professionals.

In addition, we have a number of Q&As aimed at practical problems which have arising because of the coronavirus pandemic, for example in relation to virtual signing and inability to attend court due to travel restrictions. These can be found in the Q&A tab of this subtopic.

Insolvency reforms

The coronavirus pandemic is causing countries around the world to try to expedite finalisation of new restructuring laws or temporarily suspend onerous directors’ duties requiring them to file for insolvency within a set period of the onset of insolvency to assist struggling companies during this period of extreme volatility and uncertainty.

In the UK, the Business Secretary, Alok Sharma, announced on 28 March 2020 the government’s intention to amend insolvency laws to give companies breathing space and keep trading while they explore options for rescue​.

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Latest Restructuring & Insolvency News

Restraining the presentation of winding-up petitions (SKS Justa & Co Ltd v Justa Ltd)

Restructuring & Insolvency analysis: The case concerned the fall-out from the sale of an accountancy practice, the dispute centring on the availability and extent of the payment of deferred consideration. The respondent had served statutory demands on the two purchasers, who then raised a welter of disputes in order to divert the dispute from the insolvency court to a Part 7 claim. After a heavily contested hearing of the applicants’ application to restrain the presentation of winding-up petitions by the respondent, Deputy ICC Judge Arumugam undertook a common-sense analysis of the applicants’ disputes, and found none of them to be genuine disputes on substantial grounds; indeed, his view was that, even without conducting a mini-trial, they flew in the face of the contemporaneous evidence. Written by Ali Tabari, barrister and mediator at St Philips Chambers.

Restructuring & Insolvency weekly highlights—11 September 2025

This week's edition of Restructuring & Insolvency weekly highlights includes: an examination of a challenge to administrator appointments (Glint Pay v Baker and Rowley), guidance for practitioners on distribution plans under the Payment and Electronic Money Institution Insolvency Regulations 2021, SI 2021/716 (Kicks v MLS-Multinational Logistics), plus a round-up of other news and cases for restructuring and insolvency professionals.

Insolvency Service reports five-year directorship disqualification for £130,000 BBL fraud

The Insolvency Service reported that Eric Agyeman has been sentenced to two years and two months after fraudulently obtaining £130,000 through three separate bounce back loan (BBL) applications in 2020. Agyeman pleaded guilty to fraud and money laundering after fabricating turnover figures for his non-trading company DOK Logistics UK Ltd. He transferred £44,415 of the funds to purchase goods for export to Ghana. The 46-year-old London resident has also been disqualified as a company director for five years, with the Insolvency Service now seeking to recover the fraudulently obtained funds under the Proceeds of Crime Act 2002 (PoCA 2002).

Leapfrog to Supreme Court approved (Re Waldorf Production UK Plc)

Restructuring & Insolvency analysis: Following the High Court's refusal to sanction the Part 26A restructuring plan (RP) for Waldorf Production UK Plc, Mr Justice Hildyard agreed to issue a leapfrog certificate allowing the Plan Company to appeal directly from the High Court to the Supreme Court. The Plan Company argued that the Court of Appeal's approach in Thames Water and Petrofac was wrong, arguing that out of the money (OOTM) creditors could fairly have their rights released for nominal consideration where they would be no worse off than in the relevant alternative.

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