Blog

The remaining temporary insolvency measures imposed by the Corporate Insolvency and Governance Act 2020 expire today (31 March 2022).

We are delighted to announce that Duncan Mosley has joined Ramsdens as a specialist Consultant, bolstering our Business Legal Services team.

Small businesses will welcome temporary, new rules from 1 October 2021 to 31 March 2022 which allow them to apply (‘petition’) to wind up a debtor company in certain circumstances, easing the pandemic-related restrictions on presenting a petition that applied previously.

On 21 May 2020 we reported on the provisions of the Corporate Insolvency and Governance Act 2020 that were aimed at assisting struggling businesses during the Coronavirus pandemic.

Suppliers need to diligently monitor their customers, and their contracts with them, for signs of looming insolvency, so the supplier can act before they lose the right to do so under the Corporate Insolvency and Governance Act 2020, which, includes, taking away suppliers’ rights in commercial contracts to terminate a contract for non-payment if a customer is insolvent.

In our blog of 24 April we reported on the Government’s press release announcing measures to protect companies and commercial tenants from aggressive rent collection by their landlords during the Coronavirus pandemic.

In his post last year – Stephen Newman of Ramsdens’ Corporate department advised company directors on their duties, as set out in sections 171 to 177 of the Companies Act 2006