UK's Proposed Corporate Restructuring Regime Follows European-Style Chapter 11 And Debtor-In-Possession Trend

Author:Ms Kay Morley, Ben Larkin and David Harding
Profession:Jones Day

The UK Government has announced proposals to introduce a new UK restructuring plan and moratorium, together with certain other changes to the corporate governance regime relevant to companies in distress. In addition, insolvency termination clauses will in certain circumstances no longer be enforceable in the event that one party to a contract enters into an insolvency proceeding. When implemented, the proposals could have a significant impact on the UK restructuring landscape and are likely to be of crucial importance to all stakeholders. The proposed changes reflect the general European trend in favour of debtor-led...

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