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Covid-19: Making A Bankruptcy Law Work In A Pandemic
A blanket suspension of the IBC will be harmful for the very firms that such suspension seeks to protect.
24 Apr 2020, 02:36 PM IST
The union cabinet has reportedly cleared a proposal to suspend the Insolvency and Bankruptcy Code, 2016, for six months, which may be extended to 12 months. Before this announcement, there was a clamour for a blanket suspension of the IBC in anticipation of a large number of IBC filings in respect of firms that face severe distress due to the lockdown. This fear was exacerbated by the possibility of a large number of liquidations res...
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