Temporary Corporate Insolvency Provisions extended again
8 April 2021: The Government have recently confirmed a further extension to the temporary measures provided for in the Corporate Insolvency and Governance Act 2020 (the Act) to support businesses who are encountering financial difficulties as a result of the pandemic. Below is a snapshot of the measures extended – the full article can be found here
- Free-standing moratorium for UK businesses
- Prohibition on termination clauses in supply contracts
- Restrictions on winding-up petitions
- Suspension of wrongful trading liability
Whilst these temporary provisions are helpful, if your business is having financial difficulty, it is imperative that you seek early advice on the options available.
Any one of BRI’s management team is always available to discuss these options or any other insolvency matter so please do make contact.