The National Security Investment Act 2021 (the “Act”) came into effect on 4 January 2022 and introduced a new UK investment screening regime focused on national security risks (the “NSI Regime”). It is similar to the...more
This update summarises the latest jurisprudence on insolvent schemes of arrangement (schemes) and restructuring plans (RPs), and provides an overview of the key themes that are emerging in this area...more
On 12 May 2021, the High Court sanctioned three inter-conditional restructuring plans, under the Part 26A of the Companies Act 2006, for certain English subsidiaries of the Virgin Active group, despite major opposition of...more
Pre-packaged sales are often used as a rapid and discreet method to rescue a company, providing business continuity and preserving value. After years of heavy criticism due to the lack of transparency associated with such...more
The Part A1 Moratorium is an insolvency process that was introduced by the Corporate Insolvency Governance Act 2020 to help financially distressed companies obtain temporary protection from creditor action, while the company...more
As the UK Government’s COVID-19 support measures ease, there are a number of considerations that directors should be thinking about...
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2/19/2021
/ Business Closures ,
Business Interruption ,
Convertible Notes ,
Coronavirus/COVID-19 ,
Creditors ,
Enforcement Actions ,
Job Retention Schemes ,
Loans ,
Relief Measures ,
UK ,
Wrongful Trading
The Corporate Insolvency and Governance Act 2020 introduced a new restructuring plan (the “Restructuring Plan”) under Part 26A of the Companies Act 2006. As a recent entrant into the market, the Restructuring Plan is now...more
The UK’s reformed restructuring regime shows its force with the first successful cross-class cram-down following the introduction of the new restructuring plan. A quick legal update on the key features of the restructuring...more