Corporate Insolvency: Navigating the Covid-19 Changes
This session, presented by Solicitor and Licensed Insolvency Practitioner Stephen Allinson, looks at the proposed changes to insolvency law following the Covid-19 pandemic. Stephen is very well placed to discuss these changes being the current Chairman of the Board of the Insolvency Service, and is a popular and sought after presenter on insolvency related matters.
The presentation will discuss the proposed new moratorium procedure for companies undergoing a restructuring or rescue process, as well as the completely new restructuring scheme of arrangement. It will also look at the concept of a temporary suspension of directors’ liability for wrongful trading and the limitation to the use of statutory demands and winding up petitions particularly in the landlord and tenant space. These changes will impact on all professionals involved in the insolvency process.
Topics covered include:
The economic impact of the pandemic and how business insolvency numbers could develop in the future
The new corporate rescue procedures – more weapons in the armoury of the debtor company
Wrongful trading revisited – a sensible response or a get out for directors?
A new Temporary Insolvency Practice Direction – what is new?
The use of insolvency for commercial debt recovery – the courts are limiting this procedure
Insolvency case law brought up to date – is the judiciary responding to the challenging situation in a different way?