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While the Act was passed in response to the Coronavirus Disease 2019 (COVID-19) pandemic and its economic ramifications, it represents a significant legislative step forward in promoting the “rescue culture” in respect of financially distressed business enterprises, a policy objective that goes beyond COVID-19. The rescue culture, is, in essence, the theory that it is better to provide the existing management of a distressed business enterprise the opportunity to remain in control of it without the pressure of action by creditors, so that existing management can find a solution to the distress affecting the enterprise, thus optimising the position for all business stakeholders: employees, trade creditors, financial creditors, existing management and, indeed, existing equity holders.

United kingdomCorporate insolvencyGovernance actCoronavirus diseaseTraditional approachReal estate financeNew approachFirst routeSecond routeFirst moratoriumஒன்றுபட்டது கிஂக்டம்பெருநிறுவன நொடித்துப்போனதுஆளுகை நாடகம்பாரம்பரிய அணுகுமுறைரியல் எஸ்டேட் நிதிபுதியது அணுகுமுறை