A Review of the Insolvency Framework: A new moratorium to help business rescue

2.50
Hdl Handle:
http://hdl.handle.net/2436/617700
Title:
A Review of the Insolvency Framework: A new moratorium to help business rescue
Authors:
Umfreville, Christopher
Abstract:
With a view to making Britain the best place in the world to start and grow a business, on 25 May 2016 the Government launched “A Review of the Corporate Insolvency Framework: A consultation on options for reform” (the “Consultation”). Motivated by a manifesto pledge to put the UK in the top five of the World Bank’s Doing Business ratings, the Consultation puts forward four key proposals to encourage rescues of viable businesses: the introduction of a pre-insolvency restructuring moratorium; the protection of essential supplier contracts during restructuring; the ability to bind and cram-down secured creditors in a restructuring; and exploring options for rescue financing. This article will consider the central plank to the reforms, the introduction of a new restructuring moratorium. Experienced readers will remember similar proposals being made in 2010 (“Proposals for a Restructuring Moratorium” (the “2010 Proposals”)), with questions remaining whether the issues arising then have been addressed.
Publisher:
Sweet & Maxwell
Journal:
Company Law Newsletter
Issue Date:
2016
URI:
http://hdl.handle.net/2436/617700
Type:
Article
Language:
en
ISSN:
1352-1063
Appears in Collections:
WIRE (nr)

Full metadata record

DC FieldValue Language
dc.contributor.authorUmfreville, Christopheren
dc.date.accessioned2016-07-28T13:55:19Z-
dc.date.available2016-07-28T13:55:19Z-
dc.date.issued2016-
dc.identifier.issn1352-1063-
dc.identifier.urihttp://hdl.handle.net/2436/617700-
dc.description.abstractWith a view to making Britain the best place in the world to start and grow a business, on 25 May 2016 the Government launched “A Review of the Corporate Insolvency Framework: A consultation on options for reform” (the “Consultation”). Motivated by a manifesto pledge to put the UK in the top five of the World Bank’s Doing Business ratings, the Consultation puts forward four key proposals to encourage rescues of viable businesses: the introduction of a pre-insolvency restructuring moratorium; the protection of essential supplier contracts during restructuring; the ability to bind and cram-down secured creditors in a restructuring; and exploring options for rescue financing. This article will consider the central plank to the reforms, the introduction of a new restructuring moratorium. Experienced readers will remember similar proposals being made in 2010 (“Proposals for a Restructuring Moratorium” (the “2010 Proposals”)), with questions remaining whether the issues arising then have been addressed.en
dc.language.isoenen
dc.publisherSweet & Maxwellen
dc.subjectcorporate insolvency frameworken
dc.subjectmoratoriumen
dc.subjectbusiness rescueen
dc.subjectCork Committeeen
dc.subjectliquidationen
dc.titleA Review of the Insolvency Framework: A new moratorium to help business rescueen
dc.typeArticleen
dc.identifier.journalCompany Law Newsletteren
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