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Lighting up the CIGA!
The Corporate Insolvency and Governance Act 2020 (CIGA) entered into force in the United Kingdom this summer, amidst the economic and social disruption caused by the COVID-19 crisis.
United Kingdom | Publication | October 2020
The Corporate Insolvency and Governance Act 2020 (CIGA or the Act) has introduced new procedures and measures to seek to rescue companies in financial distress as a result of the COVID-19 pandemic and the resulting economic crisis.
CIGA came into force on June 26, 2020 after a speedy progression through Parliament, following the publication of the draft legislation in May. CIGA is part of the Government’s response to the COVID-19 crisis and introduces a number of “debtor friendly” measures to English restructuring and insolvency law, which up to now has been regarded as “creditor friendly”.
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The Corporate Insolvency and Governance Act 2020 (CIGA) entered into force in the United Kingdom this summer, amidst the economic and social disruption caused by the COVID-19 crisis.
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The UK Corporate Insolvency and Governance Act 2020 (the Act) came into force in June 2020.
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The Corporate Insolvency and Governance Act 2020 (the “Act”) introduces a number of temporary and permanent measures to restructuring and insolvency law which will affect creditors’ rights in the UK.
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The Corporate Insolvency and Governance Act 2020 (CIGA or the Act) has introduced new procedures and measures to seek to rescue companies in financial distress as a result of the COVID-19 pandemic and the resulting economic crisis.
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The Corporate Insolvency and Governance Act 2020 was introduced as a Bill in the House of Commons on May 20, 2020 and obtained Royal Assent on June 25, 2020.
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This article is an update to our previous post on the government’s guidance on responsible contractual behaviour for contracts impacted by COVID-19.
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The impact of a good overall covenant on the funding requirements of a defined benefit pension scheme and the ability for a deterioration in the covenant to result in a sharp spike in funding liabilities cannot be underestimated.
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The Significant Investments Review Act (the Act) came into force on 28 March 2024. The Office of Significant Investments Review has been established under the Ministry of Trade and Industry of Singapore to administer and operationalise the Act.
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The Energy Performance of Buildings Directive (the Recast EPBD) entered into force on 28 May 2024. The Recast EPBD repeals the Energy Performance of Buildings Directive 2010 (the Repealed EPBD). The Repealed EPBD will remain as transposed in the laws of England and Wales, and the Recast EPDB will only be transposed into the national legislation of EU Member States. The overarching aims of the revisions set out in the Recast EPBD reflect the common themes of European climate legislation to speed up the transition to renewables and rapidly reduce energy consumption. We set out below a summary of the key provisions under the Recast EPBD, when the provisions take effect and a comparison with the Repealed EPBD.
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On 21 May 2024, the European Council (or Council) adopted the so-called ‘Hydrogen and decarbonised gas market package’ (the Gas Package). The package contains a recast of the 715/2009 gas regulation (Gas Regulation) and a recast of the 2009/73 gas directive (Gas Directive) aimed at reforming the existing EU regulatory framework to support the deployment of renewable and low-carbon gases, in particular hydrogen. As such, it represents a major development in the EU gas market.
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