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<h1>Insolvency filings suspended for COVID-19 related defaults from March 25, 2020 for six months or up to one year.</h1> The Ordinance temporarily suspends initiation of corporate insolvency resolution process for defaults arising on or after 25 March 2020 for six months, extendable up to one year by notification, and bars any application ever being filed for defaults occurring during that period; it excludes defaults before 25 March 2020. It further prevents resolution professionals from filing avoidance applications in respect of defaults subject to that suspension.