Plans for temporary moratorium for corporate insolvency regime
The Insolvency Service has confirmed that two thirds of respondents believe that a pre-insolvency temporary moratorium being made available to companies would facilitate business rescue. However, concerns have been raised that a full court hearing would increase costs and delays, at a time when speed is crucial.
A common view amongst those who both support and oppose a moratorium is that safeguards for creditors needed to be strengthened.
The Insolvency Service said it would continue to consult with stakeholders and refine its proposals going forward.
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