The 2016 consultation on reforms to restructuring law appeared to have stalled due to the impact of Brexit on the legislative priorities of the Government. However, a silver lining to the Carillion collapse is a renewed focus on insolvency which has brought the proposed reforms back onto the agenda.

On the 26th August, the Government published a response to the consultation process which started post-Carillion. The response sets out proposed reforms, aimed at preventing major collapses, improving accountability and recovery of stripped value where collapses do happen, and improving the tools available to companies to achieve rescue and restructuring.

Stuart Tait, partner in the Restructuring Advisory team at Gateley Plc, gives his view on these developments here.

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This blog is intended only as a synopsis of certain recent developments. If any matter referred to in this blog is sought to be relied upon, further advice should be obtained.