The Extension of Time Regulations amend sections 237 and 261 of the Insolvency Act which regulate watershed meetings and the execution of deeds of company arrangement respectively.

Regarding watershed meetings under section 237 of the Insolvency Act 2009, the Extension Regulations provide that an administrator may convene the watershed meeting not later than 17 August 2020 where the time period for convening a watershed meeting has expired, or fell wholly or partly during (i) the COVID- 19 period or (ii) a period of 30 days after the COVID-19 period has lapsed. It is to be noted that the Extension of Time Regulations has defined the term ‘COVID-19 Period’ as the period which started on 23 March 2020 and ended on 01 June 2020.

Insofar as the question of deeds of company arrangements are concerned, the Extension of Time Regulations declare that the administrator of a deed of company arrangement may execute such a deed not later than 7 September 2020 where the deadline for the execution of a proposed deed of company arrangement expired, or fell wholly or partly during (i) the COVID- 19 Period or (ii) a period of 30 days after the COVID-19 Period has lapsed.

Vaishali Damonaiko, pupil to Sharmilla Bhima, also helped with the preparation of this article.

Twitter LinkedIn Email Save as PDF
More News
6 Jun 2023 | News

''To dare and to care'' - The Mauritian National Budget 2023-2024

On 02 June 2023, the Minister of Finance, Economic Planning and Development (Minister of Finance) ta...

5 Jun 2023 | News

Appleby marks World Environment Day with sustainability commitment

Appleby is proud to announce on World Environment Day that it is furthering its sustainability commi...

1 Jun 2023 | News

Appleby supporting LGBTQ+ Pride Month 2023

As a law firm committed to promoting diversity, equity and inclusion, Appleby is proud to support th...

17 Apr 2023 | News

Appleby Lawyers recognised in Legal 500 Europe, Middle East & Africa Rankings 2023

Appleby has retained its leading Tier 1 position in the latest edition of The Legal 500 Europe, Midd...

31 Mar 2023 | News

Appleby announces Partner and Counsel promotions

Appleby has promoted four lawyers to Partner and eight to Counsel across its Bermuda, British Virgin...

8 Mar 2023 | News

Appleby supports International Women's Day 2023

Appleby is proud to support International Women’s Day (IWD) and this year’s campaign theme of #E...

16 Feb 2023 | News

Top tier rankings for Appleby in Chambers Global 2023

Twenty-eight lawyers from across Appleby’s Bermuda, British Virgin Islands (BVI), Cayman Islands, ...

1 Feb 2023 | News

Appleby provides offshore perspective on fund finance laws and regulations in 2023

Fund finance specialists from Appleby have authored the jurisdictional chapters for Bermuda, the Bri...

25 Oct 2022 | News

Appleby leads on six jurisdictional chapters for Legal 500’s latest Mergers & Acquisitions (M&A) guide

Appleby has authored the chapters for Bermuda, the British Virgin Islands, the Cayman Islands, Guern...

11 Aug 2022 | News

Over 30 Appleby lawyers and nine offices recognised in 2022 IFLR1000

36 Appleby lawyers across nine jurisdictions have been recognised in this year’s IFLR1000 rankings...