The UK Government has issued secondary legislation extending the period of applicability of certain temporary provisions of the Corporate Insolvency and Governance Act 2020 (“CIGA”).

. .1. はじめに Covid-19 の影響が残る 2020 年 6 月 26 日、英国新倒産法(Corporate Insolvency and Governance Act 2020)が施行され、英国 倒産法の大改正が実施されました。英国新倒産法の最大の目的は、債務者フレンドリーな倒産制度の確立にあります。欧州の ファイナンスのハブとして機能する英国は、これまでは比較的、債権者フレンドリーな倒産制度を採用していましたが、新倒産法に より方向転換が図られています。 本ニューズレターでは、ファイナンスの視点から、英国倒産法を概説すると共に、英国新倒産法によるファイナンス実務への影 響を考察します 1 。 2. 英国企業倒産手続及びその適用範囲 (1) 英国企業倒産手続とモラトリアム 英国の企業倒産手続には、主として①清算手続(Liquidation 又は Winding up)、②会社任意整理(Company Voluntary Arrangement)、③スキームオブアレンジメント(Scheme of Arrangement)、④会社管理手続(Administration)及び⑤財産管理手続 (Receivership)があります。

The United Kingdom Department for Business, Energy and Industrial Strategy has announced that certain temporary measures put in place under the Corporate Insolvency and Governance Act 2020 (CIGA), which became law on 26 June 2020, will be extended.

Statutory Demands and Winding-Up Petitions

On 23 April 2020, the UK Government announced that the use of statutory demands and winding-up petitions would be restricted to ‘safeguard the UK high street against aggressive debt recovery actions' during the COVID-19 pandemic.

As previously reported, the Corporate Insolvency and Governance Act 2020 (CIGA) had made some permanent and temporary changes to the insolvency regime.

Here we focus on the impact of CIGA on construction contracts and, in particular, how the new provisions impact on construction contracts and the Construction Act.

What is CICA?

The Corporate Insolvency and Governance Act received Royal Assent on 25 June 2020. It implements the measures announced by the UK government on 23 April 2020 to safeguard against aggressive rent collection tactics. It follows the ban on forfeiture for non-payment of rent contained in the Coronavirus Act 2020 which came into effect on 25 March 2020. In this article, DLA Piper’s experienced Real Estate and Restructuring lawyers assess the debt collection restrictions contained in both Acts.

The Corporate Insolvency and Governance Act 2020 introduces a range of changes to UK insolvency law of a magnitude not seen since the reforms of the Enterprise Act 2002. One of the reforms included in the Act is a wide ranging prohibition on the operation of termination clauses in contracts for the supply of goods and/or services where the counterparty enters a relevant insolvency process.

What do the provisions do?

Under the new provisions, suppliers will be prevented from:

The Corporate Insolvency and Governance Act 2020 (the Act) received royal assent on 25 June 2020 and is now in force.

On 4 September 2020, the High Court sanctioned a restructuring plan of Virgin Atlantic Airways Limited (Virgin) under the new Part 26A of the Companies Act 2006, brought in by the Corporate Insolvency and Governance Act 2020 (CIGA); this is the first time the court has sanctioned a restructuring plan under the new Part 26A.

Corporate Insolvency: Temporary Measures extended

From 30 September 2020, The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Extension of the Relevant Period) Regulations 2020 ("the Regulations") are in force.

The purpose of the Regulations is to extend certain of the temporary measures introduced by The Corporate Insolvency & Governance Act 2020 ("CIGA") to assist companies who are struggling to deal with the economic ramifications of COVID-19.