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Insolvency moratorium extension

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The government is extending a number of the temporary insolvency protection measures introduced during the coronavirus pandemic to protect otherwise viable businesses which have struggled to continue trading as a result of the lockdown restrictions. The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Extension of the Relevant Period) Regulations, SI 2021/375, extend the period during which the wrongful trading provisions in the Insolvency Act 1986 (ss 214 and 246ZB) are suspended, until 30 June 2021. Various temporary protective measures in the Corporate Insolvency and Governance Act 2020 are also extended.

Issue: 1525
Categories: News