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Virgin Atlantic becomes first company to use UK government's new restructuring plan

United Kingdom - October 12 2020 As part of its pandemic-driven £1.2 billion solvent recapitalisation, Virgin Atlantic recently became the first company to use the UK government's new…

Distressed companies, directors' duties and conflicts of interest

United Kingdom - September 7 2020 A director diverted a business opportunity from Company A to Company B. The director argued that the diversion was not in breach of his duty to avoid…

COVID-19 in the UK: Insolvency statistics after months of lockdown

United Kingdom - August 17 2020 On 30 July 2020, the UK Insolvency Service published its quarterly insolvency statistics. Notably: Overall numbers of company insolvencies fell by 23%…

Corporate Insolvency and Governance Act - what's changed?

United Kingdom - July 3 2020 After the Corporate Insolvency and Governance Bill (CIGB) was published on 20 May 2020, it raced through the House of Commons and House of Lords and…

Stephen O'Grady, Amy Patterson, Luke Viner.

Significant insolvency reform for the UK: The Corporate Insolvency and Governance Bill

United Kingdom - May 27 2020 The much anticipated Corporate Insolvency and Governance Bill (the Bill) was published on 20 May 2020. The proposed legislation is split into two…

Stephen O'Grady, Amy Patterson.