Spurred on by the coronavirus (COVID-19) pandemic and a desire to mitigate the effect on businesses of the government-imposed lockdown, the government published the Corporate Insolvency and Governance Bill on 20 May 2020. The Bill received Royal Assent on 25 June 2020, resulting in the Corporate Insolvency and Governance Act 2020 (CIGA 2020).
The government previously consulted on proposed changes to the UK’s insolvency regime in 2016 and published its response on 26 August 2018 (see News Analysis: Exploring the government’s response to the insolvency and corporate governance consultation). See also Practice Note: Reform of UK insolvency laws.
CIGA 2020 largely follows the conclusions set out in the government’s response, together with temporary provisions to mitigate the effect on businesses as a result of the coronavirus lockdown.
The main changes of interest to
To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.
**Trials are provided to all LexisNexis content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisNexis services please email customer service via our online form. Free trials are only available to individuals based in the UK, Ireland and selected UK overseas territories and Caribbean countries. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
This week's edition of Restructuring and Insolvency weekly highlights includes: an analysis of whether a disputed restitutionary claim can support a...
The Insolvency Service has published a study analysis of Members’ Voluntary Liquidation (MVL) outcomes in England and Wales, examining 2,309 cases...
The Insolvency Service consultation on corporate civil enforcement reforms, published on 25 March 2026, has had its closing date extended from 17 June...
R3, the UK trade association for restructuring, turnaround and insolvency, has appointed Monica Kapur, as Chair of its Midlands committee, succeeding...
Restructuring & Insolvency analysis: Jeremy Jennings-Mares, partner at Morrison & Foerster, explains the background to the Bank Recovery and Resolution Order 2016 and considers its key changes.
What is the difference between an appeal and a review?What is an appeal?An appeal in insolvency proceedings is no different to an appeal in normal litigation. An appeal will be allowed only if the appeal court is satisfied that the decision of the lower court was 'wrong' or 'unjust because of a
Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid
Glossary—Latin legal termsDespite attempts in recent years to simplify the language used in legal cases, there are still a number of Latin phrases commonly used in personal injury claims. The following Latin phrases are listed in alphabetical order:Latin
0330 161 1234