- The Corporate Governance and Insolvency Act (CGIA) came into force on 26 June 2020, with the intention of providing businesses in financial difficulty with flexibility and breathing space and additional assistance (such as the protection of supplies) in order to maximise their chances of survival.
- It contains a number of provisions which will impact on construction contracts and professional appointments, in particular on the rights of a supplier under a contract for the supply of goods and services (e.g.
United Kingdom, Construction, Insolvency & Restructuring, Addleshaw Goddard LLP, Corporate governance, Due diligence
Orexim Trading Limited v (1) Mahavir Port and Terminal Private Limited ("MPT") (2) Singmalloyd Marine (S) PTE Limited ("Singmalloyd") (3) Zen Shipping and Ports India Private Limited ("Zen") [2018]
In a decision that will be of particular interest to creditors and insolvency practitioners contemplating section 423 Insolvency Act claims against defendants based outside the EU, the Court of Appeal has refused a claimant permission to serve a claim out of the jurisdiction.
United Kingdom, Insolvency & Restructuring, Litigation, Addleshaw Goddard LLP, Insolvency Act 1986 (UK)