ON DEMAND: CIG Act processes: Moratorium

Overview:

This training session will provide you with an introduction to the new standalone moratorium procedure introduced by the Corporate Insolvency and Governance Act 2020 (CIGA). Although little used to date, as other temporary covid 19 protections afforded by CIGA are withdrawn and as companies may have increased debt on their balance sheets, more companies may turn to use the moratorium procedure. This process, where the directors remain in control of the company and appoint a monitor who must be a licensed insolvency practitioner, provides a distressed company a breathing space from creditor pressure and enforcement action to implement a company rescue or restructure.

The session is perfect for all levels of professionals who are new to this moratorium procedure and would benefit from understanding how it works, when and what companies can use it, the process and its effect, the monitor’s role, challenges to the conduct of the monitor and/or directors and the impact in subsequent insolvency process. Also included are helpful practical matters for consideration and the session concludes with an example of how a moratorium has been used in practice.

Speakers

Simon Beale, Head of Insolvency, Macfarlanes LLP
Amy Walker, Senior Solicitor, Macfarlanes LLP