On Friday, 29 July the Minister for Enterprise, Trade and Employment signed into law the European Union (Preventive Restructuring) Regulations 2022 (the Regulations).

Pursuant to the Companies (Miscellaneous Provisions) (COVID-19) Act 2020 (the COVID Act), “exceptional provision” to the operation of certain parts of the Companies Act 2014 (the Act) was made for a specific period of time, which period could be extended by order of the Government (the Interim Period). Yesterday, the government announced that it was extending the Interim Period until 31 December 2022.

On Wednesday 29 April the Outer House of the Court of Session in Edinburgh issued an opinion sanctioning two schemes of arrangement proposed by Premier Oil Plc and Premier Oil UK Limited (together, Premier Oil) (the Schemes). The Court addressed multiple grounds of challenge and did so without hearing live evidence, despite disputes of fact between the parties.