Vol 15 (2018) - Issue 5

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Proposed UK Insolvency and Restructuring Reforms

Introduction

On 26 August 2018 – and rather unusually on a bank holiday Sunday – the UK government announced that it intends to introduce new legislation to implement certain measures (detailed below) as soon as parliamentary time permits. These measures could have a potentially seismic effect on the UK’s restructuring and insolvency framework – aligning (at least in theory) the UK’s restructuring framework much more to the US Chapter 11 regime.
Below is what you need to know at-a-glance about the proposed reforms. A more detailed thoughtpiece will follow in issue 6.