The Corporate Insolvency and Governance Act (CIGA) came into force on 26 June 2020, introducing a number of permanent and temporary changes to the UK’s insolvency and company laws (for further details, please refer to our GT Alert on CIGA). Certain of the temporary changes introduced by CIGA were due to expire on 30 September 2020. Some (but not all) of these temporary changes have now been extended pursuant to regulations (the Extension Regulations) made under CIGA in order to provide corporate debtors with additional relief during the ongoing Coronavirus Disease 2019 (COVID-19) pandemic and the related financial pressures on firms which have needed to adapt to the ‘new normal’. However, pursuant to separate regulations made under CIGA (the Termination Regulations) some of the temporary provisions of CIGA have also been discontinued.
Read the full GT Alert, “Extensions to Temporary Changes to UK Insolvency, Company Laws in Response to Continuing COVID-19 Crisis.”