Business support measures extended
Other articles (Insolvency Practitioner, June 2021):
- Michelle Thorp, CEO
- Kevin Hellard, President
- Personal insolvency: New Debt Relief Order rules
- Payment for the introduction of an insolvency appointment is prohibited – a reminder
- Anti-Money Laundering high-risk indicators
- Updates to Suspicious Activity Reports glossary codes
- Anti-Money Laundering case studies
- National Crime Agency releases National Strategic Assessment of Serious and Organised Crime
- New members sought: Anti-Money Laundering sub-Committee of the Standards, Ethics and Regulatory Liaison Committee
- HMRC updates
- Evaluators and Pre-Packs: What’s new?
- Case law update
- IPA joins the Money Advice Liaison Group as a National Member
- It’s not just the IPA who is 60 this year!
- Meet a Committee member: Clare Lindley, member of the Standards, Ethics and Regulatory Liaison Committee
Restrictions on statutory demands and winding up petitions, introduced in the Corporate Insolvency and Governance Act, are set to be extended to 30 September 2021. These restrictions were due to lapse on 30 June 2021.
Also extended to 30 September is the relaxation of the requirements to enter a moratorium. Again, this was due to expire on 30 June.
As a reminder, the provision for small suppliers not having to continue supplying an insolvent business will end on 30 June.
These measures apply to England, Wales and Scotland. You can read the UK Government’s full announcement here.
For those operating in Northern Ireland, a corresponding extension of legislation is being considered. Find more information on the Northern Ireland Insolvency Service website.