Ali Tabari reviews key points of the new Corporate Insolvency and Governance Bill, and sets out three key areas for litigators to start preparing for – St Philips Barristers
‘Last week saw the first reading in the House of Commons of the Corporate Insolvency and Governance Bill [“CIGB”], which is the Government’s attempt to mitigate the impact of COVID-19 on businesses which should otherwise have been viable. From a parliamentary point of view, it is still at an early stage but, given the importance and urgency of this piece of legislation, it is worth considering some of the key points which arise from a high-level overview, so that you and your clients can try to plan accordingly. Not all of the provisions will survive into the finalised Act, but early Bills are often a good indicator of the overall aims of the legislation. This article does not deal with each and every point to arise from the CIGB, which currently runs to 238 pages including 14 Schedules, but signposts the crucial areas.’
St Philips Barristers, 25th May 2020
Source: st-philips.com