The UK Government has announced today that temporary measures to protect businesses in distress introduced in response to the Covid-19 pandemic through the Corporate Insolvency and Governance Act 2020 will be lifted from 1 October 2021.
New measures intended to protect small businesses as the economy reopens, particularly in the retail, hospitality and leisure sectors, are to be introduced, with effect until 31 March 2022.
Restrictions that prevent commercial landlords from presenting winding-up petitions against limited companies due to commercial rent arrears built up during the Covid-19 pandemic are also expected to remain in place.
The full press release can be viewed at the link below.
Authors
Stay Up To Date with Ropes & Gray
Ropes & Gray attorneys provide timely analysis on legal developments, court decisions and changes in legislation and regulations.
Stay in the loop with all things Ropes & Gray, and find out more about our people, culture, initiatives and everything that’s happening.
We regularly notify our clients and contacts of significant legal developments, news, webinars and teleconferences that affect their industries.