Including societies in COVID-19 insolvency reforms


19th May 2020
Last updated
9th November 2020

This paper sets out why and how co‑operative and community benefit societies (‘societies’) should be included in the reforms of UK insolvency law announced by government on 28 March 2020, in response to COVID-19.

Insolvency (and pre-insolvency) legislation should give societies the same opportunities for rescue and survival as it gives to companies, unless the distinct form and function of societies demands otherwise. The extreme risk to business survival created by COVID-19 exists for societies as much as for companies, so the need for appropriate alignment in this area is currently huge.

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