The ‘Corporate Insolvency and Governance Bill’ (‘CIGB’) has now been published by the government in order to provide further support to businesses through the economic impact of COVID-19. The CIGB has been fast tracked “to give companies breathing space and keep trading while they explore options for rescue.” The CIGB sees a number of additions to the UK’s corporate and insolvency framework. Parts of the new legislation include temporary measures specific to the effects Covid-19 is having on businesses, whilst other elements of the bill include long term tools.
Source: R3
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