This means that creditors owed £750 or more by a company can, from 1 April 2022, petition for that company to be wound up and the Government are advising business leaders to seek professional insolvency advice to protect their business.
As expected, the Government today announced that its temporary insolvency measures, including restrictions on presentation of winding up petitions, are ending.
This means that creditors owed £750 or more by a company can, from 1 April 2022, petition for that company to be wound up and the Government are advising business leaders to seek professional insolvency advice to protect their business.
There is one exception in respect of protected rent caught by the Commercial Rent (Coronavirus) Act 2022; a landlord cannot seek to wind a tenant up in respect of rent that is a protected rent debt. For further advice and options regarding rent caught by the Act, contact Graeme Dixon.
If you need to chase a debt, contact Joanne Gardner-Boyes.
If you are a debtor needing legal advice, contact Richard Palmer.
Publication Author:
Graeme Dixon
Partner
Joanne Gardner-Boyes
Partner & Head of Commercial Debt Recovery
Richard Palmer
Partner
You may also like
Update to Ireland’s Occupiers’ Liability Law
For almost 30 years, the Occupiers’ Liability Act, 1995 (“the 1995 Act”) has represented the settled statutory position in Ireland...
Housing Disrepair claims insulated for another two years
Despite the suggestion in 2022 that housing cases may be part of the extension to fixed recoverable costs (FRC) regime,...
Mixed Injury Claims – The Discussion Continues
Over 400 attendees joined a live broadcast of our HFTV roundtable event focused on the Court of Appeal mixed injury...
Northern Ireland County Court implements new pre-action protocol for RTA claims
Pre-action protocol for personal injury and damage only traffic accident claims published on 6 February 2023. After significant discussions, a...
