In response to the Covid-19 Pandemic, the Government introduced new legislation, known as The Corporate Insolvency and Governance Act 2020, fast-tracking amendments to the existing corporate restructuring and insolvency framework. Amongst the temporary changes introduced was the restriction on the use of Statutory Demands and Winding up Petitions.
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The Coronavirus Business Interruption Loan Scheme and the Coronavirus Job Retention Scheme (CJRS) has been a lifeline for many businesses through lockdown but as the CJRS comes to an end, it's vital that businesses have robust credit control processes in place
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Tom Hall, Senior Associate - Litigation and Head of Restructuring & Insolvency at BPE Solicitors and Pete Frost, Partner at Hazlewoods disucss the Corporate Insolvency and Governance Bill which received Royal Assent on 25 June, making it an Act. This signals the single largest change to the corporate governance and insolvency framework in the past two to three decades.
In recent times, it has been the case that the use of Alternative Dispute Resolution has been encouraged, but has not been mandatory. The surge in demand for access to justice post-COVID-19 will create inevitable strains on the Court System, making the need to embrace the innovative and collaborative processes that COVID-19 has required, such as ADR, all the more important.
Read MoreIn this article, Thomas Hall (Senior Associate, Litigation and Head of Restructuring and Insolvency) and Heyma Holmes (Partner and joint Head of Employment) consider the implications of the case of Re Carluccio’s Limted (in administration), from an employment and insolvency perspective.
Read MoreTom Hall and Dale Williams discuss a directors' duties and the scrutiny they should put their proposed acts under in the face of COVID-19
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