UK CIGA Act;
Lessors and Financiers take note — September 2020

The far-reaching Corporate Insolvency and Governance Act 2020 (CIGA) came into force in the UK on 26 June 2020, with the aim of providing “breathing space” to businesses affected by the Covid-19 pandemic. The act is radical, containing significant debtor-friendly reforms to UK insolvency law.

The CIGA doesn’t exist in isolation, however:aircraft finance professionals should consider it alongside the regulations (the UK Regulations) by which the Cape Town Convention and Aircraft Protocol (together, the Convention), were, on 1 November 2015, implemented into law in the UK.