Changes to Corporate Insolvency and Governance Bill approved by NI Assembly. An outline of measures is provided by Insolvency Practitioner, Joan Rice, Harbinson Mulholland

The Corporate Insolvency and Governance Bill was approved in the Northern Ireland Assembly on 1st June 2020. The Bill is aimed at providing additional support to businesses through this period of financial instability caused by the COVID19 pandemic.   It extends Northern Ireland’s legislative provisions to match the emergency measures available in Great Britain. Measures included …

Covid -19 Insolvency Update- Temporary Relaxation of Wrongful Trading Rules

As a result of the coronavirus crisis, the government has also announced that it will be introducing new insolvency legislation with the intention of temporarily suspending the ‘wrongful trading’ rules which apply to insolvent companies. Temporary Change to Existing Legislation: The Bill will temporarily relax the threat of personal liability for wrongful trading from company …