Corporate Insolvency and Governance Bill 2020 (UK)

Jun 23, 2020

The Corporate Insolvency and Governance Bill is likely to receive Royal Assent on 26th June 2020. The Bill, once it has been made law, will introduce the biggest reforms to the UK’s insolvency framework for almost 20 years. This emergency legislation will: 

  • introduce new corporate restructuring tools to the insolvency and restructuring regime to give companies the breathing space and tools required to maximise their chance of survival during these uncertain times; 

  • temporarily suspend parts of insolvency law to support directors to continue trading through the emergency without the threat of personal liability for wrongful trading and to protect companies from creditor action; 

  • amend Company Law and other legislation to provide companies and other bodies with temporary easements on company filing and annual general meetings. 

Although this new legislation is primarily of relevance to Insolvency Practitioners, members in practice are also encouraged to participate in the webinars. Joint virtual training events have been organised for: 

  • 30th June to talk about the corporate governance changes being introduced by the Bill; and 

  • 7th July to talk about the insolvency aspects of the new Bill. 

These webinars are FREE and available to both R3 members and Non-members, but you must register.   

For more information on key speakers and how to register please see links below.