As one element of a package of measures intended to assist UK businesses with coping with economic difficulties brought about by the coronavirus pandemic, the UK government will temporarily suspend wrongful trading laws.  The proposal to temporarily suspend wrongful trading laws is set out in the Corporate Insolvency and Governance Bill (the ‘Bill’), which is currently going through the UK parliament’s legislative process and is expected to be passed into law imminently.  The suspension is set to commence from 1 March 2020 and will end 30 days following the Bill coming into force.
Continue Reading Temporary Suspension of UK Wrongful Trading Laws – the Exclusions