Skip to content

UK Corporate Insolvency Reforms: What do I need to know?

Related people
Marshall Jennifer
Jennifer Marshall

Partner

London

View profile →

Aconley Lucy
Lucy Aconley

Counsel

London

View profile →

Katrina Buckley

Partner

London

View profile →

08 October 2018

The UK Government’s response issued on 26 August 2018 confirms that the UK corporate restructuring toolbox will change (and expand).

Some of the proposed changes could be significant for borrowers, creditors and distressed investors, potentially impacting their decision-making in future restructuring scenarios. We are encouraged to see that the UK Government is considering how to ensure that UK proceedings remain competitive in a post-Brexit world.

However, in our view, the reforms are unlikely to be imminent and key questions remain as to their detailed provisions. This means a firm conclusion on the utility of the reforms in future restructurings, particularly those involving foreign companies, is not possible at this stage. We expect there will be further opportunities to consult on draft legislation and we look forward to doing so.

This bulletin summarises, and provides our initial thoughts on, the key reforms set out in the Response.

Download here.​​​​​​

Related expertise