Corporate Rescue Reanimated

Wood, John (2024) Corporate Rescue Reanimated. Journal of Business Law. ISSN 0021-9460 (In Press)

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Abstract

The CIGA 2020 reforms designed to aid corporate rescue outcomes in the United Kingdom have had two significant effects. First, the implementation of the permanent measures contained in CIGA 2020 has further shifted the UK’s insolvency framework towards a business rescue culture more associated with the debtor-in-possession model. Second, the introduction of a standalone moratorium along with the Part 26A restructuring plan has moved the focus further away from its traditional creditor-friendly approach to one that is pro-debtor. The extent and significance of both the creditor and debtor regimes and the policy direction created by CIGA 2020 is critiqued in this article.