Pre-packaged insolvency for MSMEs introduced to enable expedited, cost-effective corporate resolution and preserve business continuity.

Introduction of a pre-packaged insolvency process for corporate persons classified as micro, small and medium enterprises to provide an expedited, cost-effective alternative to the ordinary corporate insolvency resolution process, aimed at quicker, value maximising outcomes that preserve business continuity and employment; the Ordinance is promulgated under the President's emergency powers and takes immediate effect against the backdrop of prior pandemic measures including an increased minimum default threshold and a temporary suspension on filings.

---

---

---