The Corporate Insolvency and Governance Act 2020 (“CIGA”) was enacted on 25 June 2020. Since coming into force, certain of its provisions have been amended by way of statutory instrument, and others have received judicial gloss as the courts have begun to grapple with this significant piece of insolvency legislation.
Upon the enactment of CIGA, members of 3VB produced a guide to the key reforms introduced by the Act last year. Now, an updated guide which sets out the key developments to the legislation and its interpretation by the courts has been produced. This update focuses on the new statutory moratorium, the new restructuring plans, the restrictions applied to the presentation of winding-up petitions and the temporary suspension of liability for wrongful trading. Click here to view the updated guide.
The original guide can be found annexed at the bottom of the updated PDF.