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    Government announces suspension of wrongful trading rules under Insolvency Act
    2020-04-02

    The government has announced a suspension of the wrongful trading rules under the Insolvency Act 1986. Wrongful trading can give rise to individual liability for company directors if it appears that they continue to trade a company when it is effectively insolvent. The suspension is part of a range of measures designed to help struggling companies keep trading during the Covid-19 outbreak. Further details of the implementation are awaited however the changes will apply retrospectively from 1 March 2020.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Simons Muirhead & Burton, Coronavirus
    Authors:
    Peter Weiss , Natalie Wright , Simon Goldberg
    Location:
    United Kingdom
    Firm:
    Simons Muirhead & Burton
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