Related insights: Finance: Banking, Restructuring, Insolvency

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Hot off the press! Further extension of winding-up moratorium

25 Mar 2021
As foreshadowed by the Draft Corporate Insolvency and Governance Act 2020 (Coronavirus) (Change of Expiry Date) Regulations 2021 the relevant period for temporary reliefs under the Corporate Insolvency and Governance Act 2020 has been extended to 30 June 2021. Most notably, this will mean that the current suspension of personal liability for wrongful trading and the restrictions on use of statutory demands and winding up petitions will remain in place until that date.
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Any port in a storm: a cautionary tale in drafting

11 Feb 2021
In a recent decision in the Admiralty Court before Mr Admiralty Registrar Davison, the Court considered the application of the recently enacted section 233B of the Insolvency Act 1986. Whilst the conclusions reached on that provision are perhaps less surprising given its wide remit, the decision raises some interesting points for contract lawyers on the formation of contracts and the reasonableness of their terms.
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BI Insurance claims: what happens next?

28 Jan 2021
Following a "leapfrog" appeal, the Supreme Court handed down a landmark judgment on 15 January 2021 on how non-damage business interruption insurance (BI) policies should respond to claims arising out of the COVID-19 pandemic. The judgment represents a significant victory for insureds: BI cover is available under most of the policies considered. It is important to flag, however, that most SMEs holding traditional BI policies which respond to claims arising out of physical loss or physical damage will not benefit from this judgment. We consider the implications of the judgment and what happens next.