The UK Government has today indicated what will happen at the end of the month, when the temporary restrictions on winding up petitions are due to lift.… Continue Reading
There is a faint light at the end of the COVID tunnel for commercial landlords regarding timings and the ability to recover unpaid rent arrears. The UK Government has announced an extension to the current prohibition on forfeiture and winding up petitions, to enable it to introduce new legislation to help manage the £6bn estimated … Continue Reading
Following the UK Government extending the restrictions on winding up petitions until 30 June 2021 it is useful to note two recent cases that have considered the coronavirus test that currently applies to winding up petitions. In the first case Newman v Templar Corp Ltd [2020] EWHC 3740 (Ch) heard before Christmas but only recently … Continue Reading
The case of Newman v Templar Corp Ltd [2020] EWHC 3740 (Ch) came before the courts in December 2020 and provides a helpful example as to when a winding up petition can overcome the ‘coronavirus test’ set out in Schedule 10 of the Corporate Insolvency and Governance Act 2020 (“CIGA”). The judge also concluded that … Continue Reading
The Corporate Insolvency and Governance Act 2020 (the “Act”) came into force on 26th June 2020. Alongside the Act, a new Insolvency Practice Direction (“IPD”) came into force and provides additional information in respect of winding petitions and the “coronavirus test”. This blog will look at a few of the key changes contained in the … Continue Reading
Over the last seven months there has been a spate of cases dealing with the relationship between arbitration law and insolvency law. Winding-up petitions and arbitration clauses Where a winding-up petition has been presented on the basis of a contractual debt and the contract contains an arbitration clause, the Court should exercise its discretion to dismiss … Continue Reading
