THE CORPORATE INSOLVENCY AND GOVERNANCE ACT 2020 (CORONAVIRUS) (EARLY TERMINATION OF CERTAIN TEMPORARY PROVISIONS) REGULATIONS 2020 (‘REGULATIONS’)

The Regulations will come into force on 1 October 2020 and as a result a number of temporary provisions in the Corporate Insolvency and Governance Act 2020 will terminate.

For a company to enter a moratorium (or for a moratorium to continue) after 30 September 2020 the monitor must be of the opinion that it is likely that a moratorium for the company would result in the rescue of the company as a going concern, rather than if it were not for any worsening of the financial position of the company for reasons relating to coronavirus.

For further details see www.R3.org.uk or contact Paul Weber at paul.weber@spa.org.uk