Corporate Insolvency & Governance Act 2020 and beyond

CIGA bitesize: Restructuring Plan – a tool fit for the mid-market?

Among its other innovations, the Corporate Insolvency & Governance Act 2020 (CIGA) introduced the restructuring plan into the Companies Act 2006. As a “debtor in possession” process it is likely to have less stigma and will have obvious attractions to effect a restructuring without a formal insolvency process.

CIGA bitesize: Claims for wrongful trading in the COVID-19 period

When the Corporate Insolvency and Governance Act 2020 (CIGA) was passed at the end of June, it became clear that the government’s initial announcements that the threat of wrongful trading would be removed altogether would not exactly be the case – so what changed, and how would a new claim be brought?

CIGA bitesize: Protected supplies made in an insolvency process: tips for suppliers and IPs

Many suppliers are alarmed at the prospect of being required to continue to supply an insolvent entity pursuant to the new s.233B IA 1986 (as introduced by s14 of CIGA), particularly if already owed significant arrears.

CIGA bitesize: How do you identify if an insolvency procedure has been triggered?

The Corporate Insolvency & Governance Act 2020 (CIGA) has widened the circumstances in which suppliers can be prevented from terminating their supply of goods and/or services to a company in distress, as well as introducing two new restructuring and insolvency processes in the moratorium and restructuring plan.

CIGA bitesize: Termination of supplies: are your supplies essential or protected, or both?

With a view to supporting business rescue, the Corporate Insolvency & Governance Act 2020 (CIGA) introduced s.233B to the Insolvency Act 1986 (IA), which widens the circumstances in which suppliers can be prevented from terminating their supply of goods and/or services to a company in distress, or making the terms of that supply more onerous as a result of its insolvency or restructuring.