UPDATED WITH INSOLVENCY SERVICE ANNOUNCEMENT ON 7 DECEMBER 2020
Vital measures in the Corporate Insolvency and Governance Act are being extended to continue to take the pressure off businesses dealing with coronavirus.
The measures were due to expire on 30 September 2020. They include:
On 25 November 2020 the government announced it intends to reinstate the temporary removal of the threat of personal liability for wrongful trading from directors until 30 April 2021.
The government also announced that companies and other qualifying bodies with obligations to hold AGMs will continue to have the flexibility to hold these meetings virtually until 31 March 2021. This means that shareholders can continue to examine company papers and vote on important issues remotely.
In addition to the above, the government has previously announced:
If you would like to discuss these issues, please contact a member of our Restructuring team.
Other government measures already in place to support businesses and workers during the coronavirus emergency can be found in our Business after COVID-19: Transition Knowledge Hub.