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IoD welcomes insolvency changes to help companies stay afloat during coronavirus crisis

Responding to changes to insolvency rules announced by the Business Secretary today, which were proposed by the IoD last week, Jonathan Geldart, Director General of the Institute of Directors, said:

“We are very pleased the Government has listened to the concerns of directors and announced these welcome measures. During the current crisis, directors are facing immense challenges and these are pragmatic steps to provide relief during this unprecedented period. The temporary suspension of ‘wrongful trading’ insolvency provisions will help to avert entirely preventable corporate collapses. It’s absolutely right that the Government should look to prioritise jobs and business survival.”

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