The energy industry is well-provided for in terms of protecting consumers against extreme financial stresses among regulated suppliers. There's a special administration regime, the supplier of last resort powers of Ofgem, and most recently changes to the Part A1 moratorium procedure introduced in 2020. The interests of the consumer are clearly, in policy and implementation terms, paramount. However, it is legitimate nonetheless, and in fact the actionable legal responsibility of directors and boards, to look to achieve the best outcome for all the company's creditors and shareholders.
This webinar was held on 29th September and provided an overview of the:
- relevant restructuring and insolvency tools applicable to energy suppliers;
- considerations of directors in response to the threat of insolvency, the consequential additional or changed duties, and risks of personal liability; and
- right experts needed to deliver a successful restructuring.
This webinar is relevant to energy suppliers and their directors.
Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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