Commercial Debt And COVID-19: Could Provisions Under The Corporate Insolvency And Governance Act 2020 Assist Your Business?
| Published date | 27 November 2020 |
| Law Firm | Shepherd and Wedderburn LLP |
| Author | Mr Phillip Sewell and Sarah Walker |
The UK Government has introduced various provisions in order to help viable companies survive the COVID-19 pandemic. These provisions are contained within the Corporate Insolvency and Governance Act 2020 ("CIGA"), which was brought into force on 25 June 2020. Of the provisions introduced, the moratorium is key for businesses that have been impacted by COVID-19.
If eligible under CIGA, directors of a company are allowed to implement a moratorium to prevent a creditor taking any action against the company...
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