The Government announces a further extension to the ban on winding up petitions and statutory demands until September 2021
Last week, the Government announced that it will further extend the temporary measures in relation to winding up petitions and statutory demands. The current expiry date on 30 June 2021 has now been extended to 30 September 2021. We previously wrote about what the temporary measures include in previous updates.
The purpose of this further extension is to protect companies from creditor enforcement action where their debts relate to the pandemic and to ensure that businesses and their directors, who continue to feel the effects of COVID-19 and national restrictions, have the opportunity to continue to trade while avoiding aggressive creditor action. This is similar to the approach taken in respect of the commercial rent moratorium which has recently been extended until March 2022.
Our highly experienced Disputes can help advise you about practical and legal steps to help if you are struggling with a problem debtor. Please do get in touch.
This update is for general purposes and guidance only and does not constitute legal or professional advice. You should seek legal advice before relying on its content. This update relates to the prevailing circumstances at the date of its original publication and may not have been updated to reflect subsequent developments. If you have general queries about our updates, please email: email@example.com