The Corporate Insolvency and Governance Bill is supported by the courts in recent decisions on winding up petitions
Two interesting applications, both involving winding-up petitions, have been heard this month. The judicial rulings, in both cases, supported the provisions of the Corporate and Insolvency Governance Bill (“the CIGB”). As detailed in our May bulletin the CIGB was presented to Parliament on 20 May 2020. The CIGB has now passed its third reading and is due to go back to the House of Commons with amendments. The temporary restrictions on the presentation of winding up petitions during what is described as the “relevant period” are defined within Schedule 10 of the CIGB.
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