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Legal Updates

 

 

Further extension of restrictions on winding up petitions to 30 September 2021

15-November-2021
15-November-2021 17:25
in General
by Admin

 

On 16 June 2021, the government announced a further extension to the restrictions on statutory demands and petitions under the Corporate Insolvency and Governance Act 2020 that had been due to expire on 30 June 2021. The announcement has now been confirmed by the publication of the Corporate Insolvency and Governance Act 2020 (Coronavirus) (Extension of the Relevant Period) (No 2) Regulations 2021 (SI 2021/718). These provide that the restrictions on presenting winding-up petitions and on winding-up orders under Schedule 10 to the Corporate Insolvency and Governance Act 2020 that had been due to expire on 30 June 2021 will now expire on 30 September 2021.

 

There is no further extension to the suspension of wrongful trading liability or to the exemption for small suppliers from the restrictions on terminating supply contracts as a result of the customer’s insolvency, both of which will therefore expire on 30 June 2021.