New law gives “breathing space” to operators pushed to brink of insolvency


 

Transport firms facing collapse in the wake of the Covid-19 pandemic have been thrown a lifeline in the form of a new law. The Corporate Insolvency and Governance Act, passed last week, marks the most significant change to the UK’s corporate insolvency regime in more than 20 years. Announcing the new law, the government’s Insolvency Service said it introduces “temporary easements to give distressed businesses the breathing space they need to get advice and seek a rescue”. It added: “It […]