Proposed changes to UK insolvency laws aim to support companies under pressure due to COVID-19.

On 28 March 2020, the UK government announced a number of reforms to UK insolvency laws:

In the aftermath of recent municipal bankruptcies in which issuers proposed and/or implemented bankruptcy plans involving partial discharges of the issuer’s payment obligation on insured bonds, there has been increased focus on whether municipal bond interest paid by a bond insurer after the bankruptcy plan’s effective date continues to be tax-exempt.