Political, regulatory competition and the U.K. debt-restructuring regime at the crossroads
Hamiisi Junior Nsubuga
What the paper says
This article analyses CIGA 2020 reforms to the U.K. insolvency and debt-restructuring regimes, particularly, the new part 26A restructuring plan, the creditor cross-class cramdown and the new standalone moratorium and their impact on the U.K. insolvency and debt-restructuring landscape. The article contends that these permanent changes were not needed immediately, in the aftermath of Brexit and COVID-19 experiences. Rather, temporary time-limited changes would have been ideal, followed by an impact assessment that would inform desired course of reforms, rather than fast-tracked reforms that may have been driven by political and regulatory competition. The article further argues that these CIGA 2020 reforms could instigate a policy shift, from a pro-creditor to a pro-debtor restructuring regime, that questions the United Kingdom's overall policy objective moving forward.
Evidence weight
Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40
| F · citation impact | 0.50 × 0.4 = 0.20 |
| M · momentum | 0.50 × 0.15 = 0.07 |
| V · venue signal | 0.50 × 0.05 = 0.03 |
| R · text relevance † | 0.50 × 0.4 = 0.20 |
† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.