Published on : Wednesday, September 30, 2020
At the ABTA AGM on 24 September, held virtually due to the ongoing COVID-19 pandemic, ABTA Members voted to pass both special resolutions to amend the Articles of Association.
The first resolution amended Article 9 to require Members to notify ABTA of any Insolvency Event affecting the business of the Member.
The amendment will require notification of an Insolvency Event affecting the Member or the officers of a Member company in any event.
The second resolution amended the definition of Insolvency Event in the Articles to make explicit reference to any statutory arrangements or composition with creditors made by an individual with creditors.