Commercial Update December 2020

On 9 December 2020 the government announced it intends to reinstate the temporary suspension of the use of statutory demands and winding-up petitions until 31 March 2021.

This follows the announcement made 25 November 2020 reinstating the temporary removal of the threat of personal liability for wrongful trading from directors which will last until 30 April 2021.

The government also announced that companies and other qualifying bodies with obligations to hold AGMs will continue to have the flexibility to hold these meetings virtually until 31 March 2021. This means that shareholders can continue to examine company papers and vote on important issues remotely.