The Corporate Insolvency and Governance Bill 2019-21 is due to be reviewed by the House of Lords committee on 16 June 2020, as part of the process to receiving Royal Assent to become legislation in the UK, which is expected to be on or shortly after 23 June 2020.
The Bill came about following a statement by the Business Secretary Alok Sharma on 23 April 2020 setting out the Government’s intention for new legislation to be put in place to make provisions for companies and other entities facing financial and operational difficulties arising from Covid-19. The first draft of the Bill came about on 20 May 2020, and since then has been making its way through the parliamentary process.
Given the impact Covid-19 is having on businesses across the UK, the progress of this Bill is being closely monitored and we will keep you updated of the further developments as and when they arise.
If you have any concerns or queries relating to this matter, please contact Gemma Newing or a member of our Dispute Prevention & Resolution team.
