New insolvency law to help businesses survive in face of ‘aggressive debt recovery’ during pandemic
Businesses struggling to stay afloat through the Covid-19 crisis could be saved by the introduction of a new Corporate Governance and Insolvency Bill giving companies time to restructure, refinance and keep trading when they might otherwise go out of business because of debts caused by the coronavirus pandemic. Under the rules, wrongful trading provisions will be temporarily suspended; meaning directors…