Morgan Lewis partner Bruce Johnston was quoted by GlobalCapital in an article about the Corporate Insolvency and Governance Act 2020, which came into effect in the United Kingdom on June 26, 2020.
Bruce explains that the new insolvency law was expedited through the UK Parliament with limited consultation but that the law can be amended later by secondary legislation. However, Bruce said, “I suspect the government is not going to want to change it until insolvencies start going wrong and start getting bad publicity.”