Stronachs Logo

Restructuring and Insolvency

Throughout June our Restructuring and Insolvency Team are looking at the potential impact of the Corporate Insolvency and Governance Bill.  This article kicks off examination of the provisions that have been tabled in respect of termination clauses in supply contracts. Update: Since the Bill became law on 26 June 2020 the exclusion for small suppliers has been extended to 30 September 2020

We will be issuing further guidance in due course on the practical issues these provisions entail specifically for suppliers, for companies/directors, and for insolvency practitioners.

The UK Government introduced the Corporate Insolvency and Governance Bill on 20 May 2020 with the reading of the Bill taking place in the House of Commons this Wednesday 3 June 2020. Some of the measures being introduced are temporary and designed to help companies in the short term which are facing ongoing financial pressures as a result of the ongoing COVID-19 pandemic, however many of the other changes represent a more permanent and fundamental change to insolvency law in the UK.

Chambers Leading Firm 2020 bw

Contact Info

28 Albyn Place, Aberdeen AB10 1YL
Tel: +44 1224 845845


Camas House, Fairways Business Park,
Inverness IV2 6AA
Tel: + 44 1463 713225

Legal 500uk leading firm 2020