Today the Corporate Insolvency and Governance Bill 2019-2021 had its first reading in Parliament.
As anticipated, the Bill introduces temporary provisions to void any statutory demands that have been issued during the pandemic.
Interestingly, the draft also suggests that permanent change to the insolvency regime may be introduced.
Representations on the Bill will now be made and the Bill will be considered again by MPs on 3 June. Forsters Property Litigation team will provide a further update in due course.
Latest news on the Corporate Insolvency and Governance Bill 2019-21 This is a public bill presented to Parliament by the Government. The Bill was introduced to the House of Commons and given its First Reading on Wednesday 20 May 2020.