The introduction of the Insolvency (Amendment) Regulations (Northern Ireland) on 13 March will pave the way for the lifting of restrictions on the filing of new creditors’ winding up petitions by the Bankruptcy and Companies Master.

During the pandemic, a company moratorium procedure was introduced in 2020 to give companies in financial distress the breathing space to explore rescue and restructuring options free from creditor action.

Permanent procedural rules on company moratoriums are required to operate the system effectively and provide certainty to directors, creditors, and insolvency practitioners.