The Corporate Insolvency and Governance Act 2020 came into effect on 26 June 2020. As mentioned in our previous blog post, it is expected that this Act will have a significant impact on secured and unsecured bank debt.
Our Restructuring, Turnaround and Insolvency team have produced a series of short, informative and user-friendly webcasts focusing on a number of the key aspects to help our clients better understand the implications of the Act and how it may affect their businesses.
The latest webcast looks at the likely implications of the Act for financial institutions and in particular, commercial banks. Natasha Johnson, a partner in our RTI team, considers the new debtor-in-possession insolvency procedure and the new restructuring plan, which includes a cross-class cram down ability and what super-priority to certain pre-moratorium unsecured debts will mean for financial institutions.
For more information on the new Act, please see our Latest Thinking and Corporate Insolvency and Governance Act 2020 – soundbite series.
Natasha Johnson
Partner, London
Disclaimer
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