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The Government has introduced The Corporate Insolvency and Governance Bill which contains a number of measures to help business through the Coronavirus Pandemic and the resulting economic crisis. As well as containing temporary measures to ease the administrative burden on companies by, for example, giving more time for companies to file their accounts, it also includes significant changes to insolvency law.

It introduces new corporate restructuring tools to take the pressure off companies in difficulty and increase the prospects of a rescue. The Bill also temporarily relaxes the threat of personal liability for directors for wrongful trading. The new measures will affect the remedies open to creditors and so is likely to have a significant impact on all businesses.

More information can be found here -  The Corporate Insolvency and Governance Bill 

 

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