Wednesday, 21 October
10.30am – 11.30am BTS
We will touch upon restructuring plans, plans for survival, termination clauses, effects of Brexit and much more.
Is the UK moving more towards a debtor friendly restructuring regime?
UK Corporate Insolvency and Governance Act 2020 – assessing the potential impact of moving to a more debtor-friendly restructuring regime, temporary measures as a result of Covid-19, and a comparison with Denmark
Join us alongside fellow member company UHY Hacker Young for a webinar discussing the new Corporate Insolvency and Governance Act and the attempt to move to a more permanent debtor led restructuring regime in the UK, as well as temporary measures to protect companies in difficulty as a result of the pandemic. We will also briefly compare this with the current system in Denmark, and consider potential future cross-border implications following the UK’s exit from the EU.
We will cover:
- An introduction to the Corporate Insolvency and Governance Act (CIGA) – why the UK is moving more towards a debtor friendly restructuring regime
- The impact of Covid-19 – temporary measures that have been put in place and the potential effect on the economy when they come to an end in September
- Restructuring plans, plans for survival, termination clauses, effects of Brexit and much more.
- Restrictions on statutory demands and winding up petitions
- The new moratorium to allow companies to develop a plan for survival
- The use of the Restructuring plan
- Restrictions on termination clauses
- Suspension of liability for wrongful trading
- The potential effects of Brexit
10.30 welcome and introductions by Gunnar Larsen, Managing Director DKUK
11:30 End of programme
Brian joined our London office as turnaround and recovery partner in 2019.
Brian has been practicing in the area of business turnaround, reconstruction and insolvency for over 36 years. Whilst his earlier career has included work on large corporate assignments, the latter half of his career has focused on assisting SME companies and individuals facing business problems and financial pressures.
As well as advising SMEs, Brian also assists lenders, including banks, alternative lending institutions, asset based lenders and others, undertaking business reviews to develop turnaround strategies and assist with implementation. If necessary, Brian can undertake formal insolvency appointments as an administrator, receiver or liquidator.
Over his career Brian has dealt with most industry sectors but his areas of particular expertise include building and construction, property, manufacturing, retail, marketing services, financial services and pubs, clubs and restaurants.
Brian is on the Charity Commission’s interim manager panel and has been involved in a number of interim manager appointments both alongside existing trustees and to the exclusion of trustees.
Brian is licenced as an insolvency practitioner by the IPA and is a fellow of the Insolvency Practitioners Association and R3: Association of Business Recovery Professionals. He is also a member of the Turnaround Management Association.
During his career, Brian has lectured extensively and has been quoted on insolvency-related matters in the trade and national press and appeared on both UK and German television.
Brian brings a wealth of experience and knowledge to his assignments, he communicates well and has the interpersonal skills to deal with the difficult and challenging situations inevitably presented by financial distress. Brian also has an extensive range of contacts, which allows him to pull together teams of people to tackle any situation.
Alison is a senior insolvency and restructuring partner based in London. She has more than 30 years of experience in advising insolvency practitioners, financial institutions, directors, corporates and turnaround professionals on restructurings, formal insolvency appointments, managed exits, and all related aspects of underperforming or distressed corporates. She advises on contentious and non contentious matters and also has experience of resolving disputes by mediation.
Alison advises across all sectors. Her recent experience includes advising the administrators of HMV on the strategy and sale of retail stores and the disputes relating to stock in the stores. At the same time, she was advising a number of counterparties to contracts with Carillion and Interserve (including boards of directors, investors, lenders and an NHS Trust) on their contractual position and their strategic options in light of the insolvency of their contracting party.
Chambers UK 2019 notes that “technical and approachable” Alison Goldthorp is well regarded for her contentious insolvency litigation experience. Her practice spans corporate and personal insolvency, with clients including banks, insolvency practitioners, directors and other stakeholders.