![International Restructuring NewsWire - October 2020](https://www.nortonrosefulbright.com/-/media/images/nrf/nrfweb/knowledge/publications/inw-oct-2020/us_28112_international-restructuring-newswire-cover-image_1920x1080.jpg?h=180&iar=0&w=320&revision=,4611686018427387904&hash=0E4913AEACD3C6C667E872D881EBB38E)
Publication
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”.
Publication
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.
Publication
The UK Corporate Insolvency and Governance Act 2020 (the Act) came into force in June 2020.
Publication
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.
Publication
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.
Publication
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.
Publication
This article is an update to our previous post on the government’s guidance on responsible contractual behaviour for contracts impacted by COVID-19.
Publication
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.
Publication
Buy now, pay later (BNPL) schemes have surged in popularity, providing for short-term financing that allows consumers to make purchases and pay for them at a later date. Generally, the majority of BNPL users are younger consumers under the age of 35 who are sometimes less financially literate than older generations. Most common BNPL credit agreements have fallen largely outside the scope of existing regulatory regimes. Recently, governments have sought to amend their regulatory frameworks in a way that would bring BNPL into scope. Such amendments seek to ensure that consumers are protected from irresponsible lending practices that could lead to over indebtedness. Following on from our previous Regulation Around the World issue on BNPL, this short briefing note provides a high-level snapshot of the state of play for BNPL legislation in three key markets – UK, US and Australia.
Publication
On July 4, the UK will head to the polls. If a change in government occurs, it would have significant impacts on the business landscape. Employment law, financial regulation, the energy transition, trade deals and technology policy may all be impacted. We consider the impacts of the proposals, the legal implications, and steps businesses may need to take if there is a change in government.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023