Kirkland & Ellis – UK Phases Out COVID-19-Related Temporary Insolvency Measures, but New Tapering Measures Protect Commercial Tenants
At a Glance Yesterday, 9 September, the UK Government announced plans to: permit existing restrictions on winding-up petitions and statutory demands to lapse on 30 September 2021; but until 31 March 2022: prohibit winding-up petitions based on unpaid rent under a business tenancy which is unpaid by reason of a financial effect of coronavirus; protect businesses from creditors insisting […]