The Corporate Insolvency & Governance Bill – Further Extension of Temporary Measures, Liability for Wrongful Trading to be Reinstated, Other Support Methods to be Introduced
It is no doubt with the financial difficulties created by the lockdowns in mind that the Government has extended the prohibition on presenting winding up petitions based on statutory demands until 30 September 2021. Until that date, any petitions presented on the ground that a company is unable to pay its debts as they fall due, remain restricted, unless the creditor can establish that the inability to pay is not linked to the Covid-19 pandemic.
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