Moratorium – what you need to know
The Insolvency Service is currently conducting a consultation for reform of the corporate insolvency framework, which will involve a 90 day moratorium – meaning more time and greater protection for companies on the verge of insolvency.
This proposal is currently taking place and open for comment until 8th July 2016 and could have big implications for credit professionals and your bad debt provisions.
In this article we will discuss:
· What is a moratorium?
· What are the proposed changes?
· When could the moratorium be used – including eligibility, qualifying conditions?
· What is the impact of the proposal on creditors?
· What happens if the proposal is accepted?
To read the full article and how this may affect you and your business, please click this link.