On 28 March 2020, the UK government announced it would be implementing new measures to improve the insolvency system aiming to, amongst other things, support businesses under pressure as a result of the COVID-19 outbreak and resulting restrictions. Alok Sharma, the Business Secretary, announced there would be legislative changes to allow ‘greater flexibility’ enabling UK companies undergoing a rescue or restructure process to continue trading, giving them breathing space, which could help them avoid insolvency.
