Read an update on everything R3's Press, Policy and Public Affairs team have been up to in June 2020...

Two key Bills are currently approaching the end of their legislative journey: the Corporate Insolvency and Governance Bill, and the Finance Bill.

This post looks at some of the economic damage that the COVID-19 pandemic has caused in the UK, following the news that monthly GDP for April 2020 was at a level last seen in the summer of 2002...

Following on from last week’s debate in the House of Commons, where it passed through all its stages in the lower chamber in one day, the Corporate Insolvency and Governance Bill had its second reading in the House of Lords on 10 June. Read more... 

The second full month of the lockdown saw the Corporate Insolvency and Governance Bill introduced to Parliament, the first monthly publication of the corporate and personal insolvency statistics, and continued media interest in the profession, its processes and how it has responded to the pandemic.

The Corporate Insolvency and Governance Bill had all of its House of Commons stages on 3 June. Read more on the debate in Parliament here... 

On 20 May, the Government published its Corporate Insolvency and Governance Bill. Once this Bill has become law, it will introduce the biggest reforms to the UK’s insolvency framework for almost twenty years, as well as a series of temporary changes to the corporate governance requirements for companies and other entities...

On May 15^th, for the first time, the Insolvency Service (IS) released monthly figures for corporate and personal insolvencies (NB: corporate: England & Wales, Scotland; personal: England & Wales). The IS said that it was publishing on a monthly (rather than quarterly, as previously) basis “to provide more up to date information on the numbers of companies and individuals who are unable to pay debts and enter a formal insolvency procedure as the coronavirus (COVID 19) pandemic continues”.

Find out more about the Finance Bill 2019-21, which contains two policies which could damage business lending and impede business rescue...

A post setting out the concerns that R3 has over the Government's decision to suspend wrongful trading provisions...