International Corporate Rescue
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Vol 18 (2021) - Issue 2
Article preview
An Assessment of UK Insolvency Laws in the Light of New Ways of Working in the Era of COVID-19
Professor Rebecca Parry, Co-Director of the Centre for Business and Insolvency Law, Nottingham Trent University, Nottingham, UKSynopsis
The COVID-19 pandemic has brought changes to working, bringing greater reliance on technologies, including cloud computing. This calls for a reassessment of current insolvency laws, given the potential risks of business interruption and loss to consumers arising from the failure of a cloud service provider. While noting the limitations on the ability of domestic insolvency laws to handle these insolvencies, which are supranational in nature, this article assesses the suitability of current insolvency laws in England and Wales to enable the managed closedown of a cloud service provider with minimal loss and disruption to customers.
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