Show simple item record

dc.contributor.authorUmfreville, Christopher
dc.date.accessioned2016-07-28T13:55:19Z
dc.date.available2016-07-28T13:55:19Z
dc.date.issued2016-06-30
dc.identifier.citationUmfreville, C. (2016) 'A review of the insolvency framework: a new moratorium to help business rescue', Company Law Newsletter, 385, pp. 1-4
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.
dc.language.isoen
dc.publisherSweet & Maxwell
dc.subjectcorporate insolvency framework
dc.subjectmoratorium
dc.subjectbusiness rescue
dc.subjectCork Committee
dc.subjectliquidation
dc.titleA review of the insolvency framework: a new moratorium to help business rescue
dc.typeJournal article
dc.identifier.journalCompany Law Newsletter
dc.date.accepted2016-06-29
rioxxterms.funderinternal
rioxxterms.identifier.projectUOW280716CU
rioxxterms.versionAM
rioxxterms.licenseref.urihttps://creativecommons.org/CC BY-NC-ND 4.0
rioxxterms.licenseref.startdate2017-07-28
refterms.dateFCD2018-10-18T15:47:00Z
refterms.versionFCDAM
refterms.dateFOA2018-07-18T12:55:08Z
html.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.


Files in this item

Thumbnail
Name:
Chris Umfreville - Company Law ...
Size:
326.9Kb
Format:
PDF

This item appears in the following Collection(s)

Show simple item record

https://creativecommons.org/CC BY-NC-ND 4.0
Except where otherwise noted, this item's license is described as https://creativecommons.org/CC BY-NC-ND 4.0