The High Court recently issued its ruling in the matter of Re Avanti Communications Limited (in administration). It is the first major case since the pivotal 2005 House of Lords decision of Re Spectrum Plus to examine the characteristics of fixed and floating charges.
Key points
United Kingdom, Insolvency & Restructuring, Litigation, Stephenson Harwood LLP, HM Revenue and Customs (UK), House of Lords
The Corporate Insolvency and Governance Act received royal assent on 25 June 2020 and comes into force immediately.
The Act introduces a range of new corporate restructuring tools and suspends, temporarily, parts of the existing insolvency regime. The purpose of this note is to update you on two key aspects of the Act: the moratorium on legal action and the temporary changes in relation to statutory demands and winding-up petitions.
Moratorium on legal action
European Union, United Kingdom, Arbitration & ADR, Construction, Insolvency & Restructuring, Litigation, Stephenson Harwood LLP, Coronavirus