Helpful Guidance About the Role of a UK Monitor in Terminating a Moratorium

March 2022
Region: Europe

In the first reported High Court case, the decision in Minor Hotel Group provides insolvency practitioners with useful guidance on how monitors should exercise their discretion when considering whether to terminate a moratorium if they think that the company is unable to pay pre-moratorium debts when the company does not have a payment holiday, and what "thinks” and “unable to pay” mean in this context. As well as considering whether a guarantee liability benefits from a payment holiday.