Dunedin Advisory: Scottish SMEs slow to use moratorium rescue tool

The moratorium is overseen by a Monitor, who must be a licensed insolvency practitioner. Convy, a chartered accountant with over 25 years' restructuring experience, says qualifying pre-moratorium debts get a payment holiday while ongoing liabilities must still be met, giving directors breathing space to explore asset sales, investment, restructuring or a Company Voluntary Arrangement.

She notes the initial 20 days is often too short, so extensions can form part of a wider strategy, and urges directors and advisers to spot warning signs earlier, before options narrow.