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CIGA bitesize

CIGA bitesize: Obtaining a moratorium

The Corporate Insolvency & Governance Act 2020 (CIGA) introduced a free-standing moratorium process which provides companies facing financial difficulties (but which are likely to be rescued) a statutory breathing space from creditor pressure for up to 12 months.

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CIGA bitesize

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.

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CIGA bitesize

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?

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CIGA bitesize

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.

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