The Corporate Insolvency and Governance Act (CIGA) came into force on 26 June 2020, introducing a number of permanent and temporary changes to the UK’s insolvency and company laws. Certain of the temporary changes introduced by CIGA were due to expire on 30 September 2020. Some (but not all) of these temporary changes have now been extended pursuant to the Extension Regulations made under CIGA in order to provide corporate debtors with additional relief during the ongoing Coronavirus Disease 2019 and the related financial pressures on firms which have needed to adapt to the ‘new normal’. However, pursuant to separate regulations made under CIGA (the Termination Regulations) some of the temporary provisions of CIGA have also been discontinued. Read further.
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