The COVID-19 pandemic had a devastating impact on manybusinesses, with micro and small companies (“MSCs”) being morevulnerable to potential insolvency. Whilst the existing Insolvency,Restructuring and Dissolution Act of 2018 (“IRDA”) generally providesrestructuring and winding up processes for companies withsubstantial assets, these processes may not be wholly suited fordistressed MSCs which have now been depleted of their alreadylimited resources, as a result of the pandemic.

Menu