Three of Serle Court's Insolvency barristers have written an article for the 2021/2022 International Insolvency & Restructuring Report.  The report provides an essential guide to the international insolvency and restructuring marketplace looking at developments and changes to the law during the COVID-19 pandemic.

Lance Ashworth QC, David Drake and Matthew Morrison look at the suspension of wrongful trading under the Corporate Governance and Insolvency Act 2020 which was introduced to allow directors to trade during the pandemic without the unwanted distraction of potential liability.  This article considers whether that objective is likely to be achieved in circumstances where there has been no modification to the common law rules governing duties owed to creditors, and in light of the Court’s power to award compensation in disqualification proceedings.  Their article titled 'Keeping directors in suspense: Wrongful trading under the UK Corporate Governance and Insolvency Act 2020' can be found at pp 92 - 96 of the report.  We are pleased to be able to share the article with you here.  

The Report also includes coverage of insolvency and restructuring practice in the following jurisdictions: Australia, Austria, Brazil, Cayman Islands, China, Cyprus, Denmark, India, Italy, Luxembourg, Mexico, Nigeria, Singapore, Thailand, UK, USA, as well as commentary on sovereign debt restructurings, emerging market restructurings and the role of PIK instruments and other hybrid debt/equity in financing structures.  The full report is available to purchase here.