The Corporate Insolvency and Governance Act 2020 (“the Act”) came into force on 25 June 2020 making sweeping changes to the current insolvency legislative framework. This article will focus on Section 14 of the Act and its effect on suppliers of insolvent companies. These provisions had been in consideration for some time before the pandemic. They are permanent provisions unlike some other provisions in the Act which appear to have been brought in on a temporary basis as part of the government’s support package for businesses.

The effect of Section 14

Sevilleja (Respondent) -v- Marex Financial Ltd (Appellant) – 2020 UKSC 31

Introduction