Cash management bank and Corporate Insolvency and Governance Act: Difference between pages

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''Cash management.''
''UK law - COVID-19''.


A bank that provides a cash management service to its clients.
The UK's Corporate Insolvency and Governance Act 2020 was enacted in response to COVID-19.


Among other changes, the Act:


==See also==
*Introduced a credit moratorium for businesses, to give them more time to seek a rescue.
* [[Cash management]]
*Prohibited termination clauses engaging on insolvency, to prevent suppliers ceasing supply or asking for additional payments while companies enter rescue proceedings.
* [[In-house bank]]
*Temporarily removed the threat of personal liability for wrongful trading for directors seeking to keep companies afloat during the crisis.
* [[In-House-Banking-as-a-Service]]
*Temporarily prohibited creditors from filing statutory demands or winding up petitions for COVID-19 related debt.


[[Category:Cash_management]]
 
== See also ==
* [[Balance sheet insolvent]]
* [[Cash flow insolvent]]
* [[Chapter 11]]
* [[Company voluntary arrangement]]
* [[Cost of financial distress]]
* [[Creditors]]
* [[Individual Voluntary Arrangement]]
* [[Insolvency]]
* [[Insolvency practitioner]]
* [[Insolvency Service]]
* [[London Approach]]
* [[Moratorium]]
* [[Restructuring plan]]
* [[Scheme of arrangement]]
* [[Solvency]]
* [[Statement of affairs]]
* [[Statutory demand]]
* [[Voluntary liquidation]]
* [[Winding up petition]]
* [[Wrongful trading]]
 
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]

Revision as of 16:39, 14 October 2020

UK law - COVID-19.

The UK's Corporate Insolvency and Governance Act 2020 was enacted in response to COVID-19.

Among other changes, the Act:

  • Introduced a credit moratorium for businesses, to give them more time to seek a rescue.
  • Prohibited termination clauses engaging on insolvency, to prevent suppliers ceasing supply or asking for additional payments while companies enter rescue proceedings.
  • Temporarily removed the threat of personal liability for wrongful trading for directors seeking to keep companies afloat during the crisis.
  • Temporarily prohibited creditors from filing statutory demands or winding up petitions for COVID-19 related debt.


See also

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