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    <description>The Ordinance establishes a non obstante moratorium preventing fresh CIRP filings under the IBC for defaults arising on or after 25 March 2020 for an initial six month period extendable up to one year, excluding defaults before that date; it excludes Covid related defaults from insolvency triggers, raises the monetary threshold for initiation, and bars insolvency professionals from filing applications in respect of suspended defaults.</description>
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