In this edition of Restructuring Watch, we reflect on the first court decision on the moratorium procedure, some recent schemes and restructuring plans, the lifting of the remaining pandemic-related restrictions for...more
In this episode, Akin Gump financial restructuring partners Lois Deasey and Liz Osborne offer an overview of creditors' fees related to English law schemes of arrangement.
Among the topics covered:
- The class and...more
The Corporate Insolvency and Governance Act (the “Act”) received Royal Assent on 25 June 2020 and is now in force. As anticipated in our client alert of 26 May 2020, the Act represents the most extensive changes in the...more
The economic landscape has changed immeasurably as a result of the COVID-19 pandemic. Access to cheap credit has disappeared, and many companies have raced to draw down on existing facilities in an effort to access as much...more
6/12/2020
/ Borrowers ,
Business Disruption ,
Coronavirus/COVID-19 ,
Corporate Restructuring ,
Debt Restructuring ,
Economic Downturn ,
Insolvency ,
Investors ,
Legislative Agendas ,
Lenders ,
Liquidity ,
Relief Measures ,
UK
The Corporate Insolvency and Governance Bill (the “Bill”) was laid before Parliament on 20 May 2020 and represents the most extensive changes in the insolvency landscape since the Enterprise Act came into force in 2003. Many...more
Further to the Chancellor’s announcement on April 3, 2020, of the introduction of the Coronavirus Large Business Interruption Loan Scheme (CLBILS), the CLBILS that is aimed at larger U.K. businesses is now live and the...more
On April 3, 2020, the Chancellor announced the introduction of the Coronavirus Large Business Interruption Loan Scheme (CLBILS) to be made available to UK businesses with an annual turnover of between £45 million and £500...more
Rishi Sunak, the U.K. Chancellor, has announced an “unprecedented package of government-backed and guaranteed loans to support businesses” to get through the COVID-19 shock.
The main components of the U.K. rescue package...more
1. Executive Summary -
The U.K. corporate tax landscape has been undergoing reform for a number of years. A significant part of the changes involves the ongoing modernization of the U.K.’s complex tax regime for...more