By James Forsyth
The UK’s corporate insolvency and restructuring landscape will be changing dramatically, following the Government’s announcement on 26 August 2018.
The Government proposes to introduce a wide range of reforms including:
1. A standalone restructuring moratorium for companies which are in financial distress
2. A statutory restructuring process which will potentially bind dissenting creditors; and
3. A prohibition on the termination of contracts on the grounds of the insolvency or restructuring of one of the parties.