Over four months ago, the Corporate Insolvency and Governance Act 2020 (“CIGA”) introduced fundamental changes to UK insolvency law including temporary measures aimed at helping companies survive the effects of Covid-19. With no end to the pandemic in sight, some of those temporary measures were extended in September 2020, postponing the surge of corporate insolvency work that many commercial litigators are predicting. 

But as the effects of CIGA become clearer, practitioners are increasingly being asked for advice about the new schemes of arrangement, and the implications of the so-called ipso facto provisions, which restrict the rights of a party to terminate a contract for the supply of goods and services in the event of counterparty insolvency.

This Quadrant Chambers webinar (following on from the webinar delivered on 28th July 2020 shortly after CIGA came into force, (see below), chaired by former Chief Bankruptcy Registrar and now Deputy Insolvency and Companies Court Judge, Stephen Baister, provides a useful overview of the recent changes to CIGA and current trends including the increasing use of schemes of arrangement. The panel consider the practical implications of the ipso facto provisions.

The first webinar on CIGA from 28 July 2020 can be viewed below: