Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Moratorium definition

What does Moratorium mean? A moratorium is a legally imposed pause on creditor enforcement and legal proceedings, giving a debtor temporary protection while rescue, restructuring or insolvency options are pursued. It is usually created by statute, with scope and duration set by legislation and shaped by case law. In England and Wales, moratoria arise in several contexts, including the standalone company moratorium under Part A1 Insolvency Act 1986 (inserted by the Corporate Insolvency and Governance Act 2020), the statutory moratorium on entry into administration (Schedule B1), interim orders for individual voluntary arrangements, and the Debt Respite Scheme (Breathing Space) for individuals. During a moratorium,...

Part A1 Moratorium for Limited Liability Partnerships: Eligibility, Application, Monitor Functions, Creditor Restrictions, Priority, Extension and Termination (Great Britain)

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

The moratorium under ia 1986, Pt A1

The Corporate insolvency and Governance Act 2020 (CIGA 2020) introduced several major reforms to insolvency law, among them a new standalone moratorium. This moratorium is an insolvency procedure through which directors of insolvent companies, designated members of insolvent limited liability partnerships (LLPs), and those at risk of insolvency, may secure a 20 business day moratorium. Located in the Insolvency Act 1986, s A1 (IA 1986) and the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, r 1A.1, it is intended to give otherwise viable businesses breathing space to restructure or attract fresh investment without creditor action. Its overarching purpose is to preserve viable enterprises while they reorganise or secure backing, away from immediate creditor pressure. An insolvency practitioner is appointed as the 'monitor'. Day-to-day control remains with the members, making it a 'debtor-in-possession' process with the LLP as the 'debtor', albeit subject to defined limitations. The policy aim is a streamlined route that minimises administrative burdens, expedites the process, and avoids imposing disproportionate expense on distressed businesses. CIGA 2020 also amended the Limited Liability Partnerships Act 2000 to allow regulations to be made to apply the...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Web page updated on 27/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...