The economic impact of the unprecedented times we are living in has resulted in businesses in all sectors facing potential risks to the bottom line. However, government-led initiatives and changes to law on corporate insolvency and governance have provided a much-needed lifeline for businesses to survive and thrive in the future.

One of the biggest changes announced is the Corporate Insolvency and Governance Bill, which was introduced on 20 May 2020. This is a welcome development that will deliver a number of changes to UK company law, enabling businesses undergoing a restructuring and rescue process to continue trading.