On 26 November 2020, The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Suspension of Liability for Wrongful Trading and Extension of the Relevant Period) Regulations 2020 (the “Regulations”) came into force.
The Regulations have exactly the same impact as the suspension of liability for wrongful trading that was brought into force by the Corporate Insolvency and Governance Act 2020 (the “Act”) on 26 June 2020. We discussed these measures in detail in our blog here before they were brought into force by the Act and there was a subsequent extension of the “relevant period” to 30 September 2020. Continue Reading