Corporate Insolvency and Governance Act 2020

Copyright © 2025 LexisNexis

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.

Existing user? Sign-in TAKE A FREE TRIAL
Powered by Lexis+®
Latest Restructuring & Insolvency News

Insolvency Service reports jail term for BBL fraud by video game composer

The Insolvency Service has reported that video game composer and sound designer Peter Connelly has been sentenced to 16 months in prison for fraudulently obtaining a second coronavirus bounce back loan (BBL). Connelly, who had already secured a legitimate loan of £22,000, inflated his company’s turnover from £58,000 to £150,000 during the pandemic to secure an additional £37,500. Connelly has also been disqualified as a company director for six years and entered an Individual Voluntary Arrangement (IVA) in June 2022 which remains active.

Insolvency Service publishes monthly insolvency statistics for June 2025

The Insolvency Service has published its monthly insolvency statistics for June 2025 on company and individual insolvencies in England and Wales. The data illustrates that there were 2,043 company insolvencies, 8% lower than in May 2025 and 16% lower than the same month in the previous year. For individuals, the total number of insolvencies in June 2025 was 10,279, similar to the numbers in both May 2025 and June 2024.

Restructuring & Insolvency weekly highlights—17 July 2025

This week's edition of Restructuring & Insolvency weekly highlights includes: an analysis of a judgment providing useful guidance to those dealing with bankruptcy petitions (Matthews v BSN (SW) Property Ltd), the launch by the Insolvency Service of a five-year investigation and enforcement strategy, plus a round-up of other news and cases for restructuring and insolvency professionals.

Insolvency Service launches five-year strategy to combat economic crime

The Insolvency Service has launched its investigation and enforcement strategy for 2026–31, significantly expanding its role in tackling economic crime. The strategy outlines three core objectives: enforcement of the UK insolvency framework, Companies Act 1985 enforcement and addressing company-facilitated economic crime. The Insolvency Service will implement artificial intelligence and advanced analytics while expanding its cryptoasset expertise to combat money laundering and sophisticated financial wrongdoing. The Service's recent performance demonstrates its effectiveness, with 77 criminal convictions, over 1,000 director disqualifications, and £4m in compensation secured in 2024–25.

View Restructuring & Insolvency by content type :  
News
Practice notes
Precedents
Q&As

Popular documents

What is the difference between an appeal and a review?

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 tax

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

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit

Glossary—Latin legal terms

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
What is the difference between an appeal and a review?

What is the difference between an appeal and a review?

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 tax

Late payment penalties—inheritance tax

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

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit

Glossary—Latin legal terms

Glossary—Latin legal terms

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