Legal Business

Sponsored briefing: Valuation – the new frontline in restructuring under the Corporate Insolvency and Governance Act 2020

Sponsored briefing: Valuation – the new frontline in restructuring under the Corporate Insolvency and Governance Act 2020

In the summer of last year, the Corporate Insolvency and Governance Act 2020 (CIGA) was rushed through the UK Parliament in a five-week period to deal with the expected fallout from the Covid-19 pandemic. As the biggest change to the UK’s insolvency and restructuring legalisation in over 20 years, one of the cornerstones of this new legislation is the introduction of the Restructuring Plan. While many of the provisions and the intent of both the Restructuring Plan and the existing Scheme of Arrangement are not dissimilar, what is ground-breaking is the introduction of the Cross-Class Cram-Down mechanism (or CCCD) and the sharp focus this is bringing on evidence as to where value breaks within the capital structure of the company in question.

Legal Business

Sponsor message: Alvarez & Marsal

Sponsor message: Alvarez & Marsal

Privately held since its founding in 1983, Alvarez & Marsal (A&M) is a leading global professional services firm that provides advisory, business performance improvement and turnaround management services.

With over 4,500 people across four continents, we deliver tangible results for corporates, boards, private equity firms, law firms and government agencies facing complex challenges. A&M leverages its restructuring heritage to turn change into a strategic business asset, manage risk and unlock value at every stage of growth.