The automatic extensions granted by the Corporate Insolvency and Governance Act will come to an end for filing deadlines that fall after 5 April 2021.

The Covid-19 measures taken by  HM Government to protect the NHS and  the UK population’s health has inevitably had an adverse impact on businesses to varying degrees. It has been a very busy few months whilst businesses have sought to adapt and safeguard their positions for the future.

Any organisation or individual requiring credit should be aware of how they will be assessed for credit risk.  One of the tools used by any potential lender or supplier will be the borrower’s credit score also known as a rating.  A borrower may not know what their score is from one day to another but should be aware of how it is assessed and viewed.

Directors will naturally be concerned as to their conduct during the current pandemic. Trying to do the right thing by the company’s employees, customers, suppliers and other stakeholders whilst ensuring ongoing compliance with their fiduciary duties will be challenging, however, changes are being made to the insolvency regime to provide directors with breathing space to explore their options, whilst protecting them from risk of personal liability.
 

Directors will naturally be concerned as to their conduct during the current pandemic. Trying to do the right thing by the company’s employees, customers, suppliers and other stakeholders whilst ensuring ongoing compliance with their fiduciary duties will be challenging, however, changes are being made to the insolvency regime to provide directors with breathing space to explore their options, whilst protecting them from risk of personal liability.
 

The Insolvency Service has issued a warning that fraudsters have been contacting investors in insolvent schemes claiming to be from the Official Receiver's office or to have been appointed by the Official Receiver to help recover funds for a fee.

Once a debtor has entered bankruptcy, he or she has certain restrictions placed on their actions and conduct. Neil Dingley of Moore Recovery Stoke on Trent explains the restrictions on individuals during bankruptcy.

There are multiple warning signs before a business becomes insolvent, however, these signs can be easily overlooked. Especially by directors and owners who have a very ‘hands-on’ approach when running their business. 

Duncan Swift, Corporate Advisory Services Partner and Head of the Food Advisory Group at Moore, has been appointed president of insolvency and restructuring trade body R3.

During the October 2018 Budget, the Chancellor announced that he would be restoring some tax debts to preferential status in corporate insolvencies which begin after 6 April 2020. There had been no consultation on this proposal, and no prior warning.

As part of its commitment to broaden services and to meet increasing client demand, Chris Tate FCA, has joined Moore (South) LLP’s leading Restructuring and Insolvency team as a director.

As part of its commitment to broaden services and to meet increasing client demand, Chris Tate FCA, has joined Moore (South) LLP’s leading Restructuring and Insolvency team as a director.

Manifest, the proxy voting agency for institutional investors, has entered administration with Moore being appointed administrator.

The New Insolvency Rules came into force in April 2017 with the intention of reducing the burden of red tape as well as modernising and consolidating the existing rules.