Global Restructuring Review
Global Restructuring Review interviewed Howard Morris about the new draft Corporate Insolvency and Governance Bill now pending before the UK Parliament.
Howard said he is “pleased” with the bill, having been an advocate of reform for a while. “We are out of step with the World Bank’s vision of what a restructuring and insolvency law should be and we, the UK, is out of step with the expectations and appetite of providers and users of capital.”
However, Howard also noted that some key things are still absent from the UK’s regime, including debtor-in-possession ending with super-priority – “a major reason why the trading administration is so rare.”
Read the full article.