Welcome to the summer edition of our restructuring and insolvency bulletin.
What do you get when you combine a pandemic, a major new piece of insolvency law and an economic downturn? A very busy restructuring and insolvency profession! The much-heralded Corporate Insolvency and Governance Act 2020 (CIGA) came into effect at the end of June, bringing about the largest change to corporate insolvency law since the introduction of the Insolvency Act 1986. In this edition of our newsletter, we discuss the implications of CIGA for suppliers and specific issues for landlords and tenants.
But that’s not all that’s going on in the world of restructuring and insolvency. Read on for updates about administration appointments and the use of section 234 Insolvency Act 1986 by administrators to require the delivery of information. You’ll also find a summary of a recent case confirming that mistakes in security documents may not necessarily require the filing of updated documents. Finally, we consider the future of CVAs and reflect on the Insolvency Service’s insolvency statistics for the first half of 2020.
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Tim Carter
David Steinberg
Matthew Padian
Lucy Trott