Bloomsbury Professional Law Insight - Corporate Insolvency and Governance Act 2020

Simon Beale is the Head of the insolvency practice at Mcfarlanes. He has more than 22 years’ experience of advising on corporate restructuring and recovery issues. Simon acts for troubled companies, their directors and shareholders and for the major financial creditors of such entities. His clients also include distressed debt investors, insolvency officeholders and a variety of other parties with an interest, or potential interest, in the troubled company’s business. Simon is the co-author of the Insolvency and Restructuring Manual published by Bloomsbury Professional.

Chapter 1: Introduction
WHAT NEW PROVISONS HAVE BEEN INTRODUCED?
WHAT HAS BEEN THE REACTION TO THE PERMANENT CHANGES?
Chapter 2: Moratorium
INTRODUCTION
WHICH COMPANIES WILL BE ELIGIBLE FOR A MORATORIUM?
HOW CAN A COMPANY OBTAIN A MORATORIUM?
WHAT IS THE EFFECT OF A MORATORIUM?
THE MONITOR
WHAT IS THE DURATION OF A MORATORIUM?
CHALLENGES IN CONNECTION WITH A MORATORIUM
INSOLVENCY PROCEDURES FOLLOWING A MORATORIUM AND SUPER-PRIORITY
Chapter 3: Restructuring plan
INTRODUCTION
WHEN WILL A COMPANY BE ELIGIBLE FOR A RESTRUCTURING PLAN?
WHAT MUST A RESTUCTURING PLAN BE DESIGNED TO ACHIEVE?
WHAT IS THE PROCEDURE FOR ADOPTING A RESTRUCTURING PLAN?
WHICH STAKEHOLDERS VOTE ON THE RESTRUCTURING PLAN?
THE CONVENING HEARING
CLASS COMPOSITION ISSUES
THE NOTICES OF MEETINGS
THE MEETINGS
THE SANCTION HEARING
THE ORDER MADE AT THE SANCTION HEARING
FOREIGN COMPANIES AND STAKEHOLDERS
PENSION SCHEMES
Chapter 4: Restrictions on the termination of supply contracts
INTRODUCTION
THE PRE-CIGA 2020 REGIME
THE CHANGES INTRODUCED BY CIGA 2020
WHAT RESTRICTIONS WILL BE IMPOSED?
HOW WILL THE NEW PROVISIONS WORK IN PRACTICE?
Chapter 5: Temporary provisions
ADMINISTRATION: SALES TO CONNECTED PERSONS
SUSPENSION OF LIABILITY FOR WRONGFUL TRADING
SUSPENSION IN RELATION TO WINDING-UP PETITIONS
REGULATIONS TO AMEND LEGISLATION