Bankruptcy Law Reform Committee (BLRC)

The Bankruptcy Law Reform Committee (BLRC) was established to review and suggest improvements to a country’s bankruptcy laws, ensuring they are fair, efficient, and aligned with international standards. Its goal is to create a balanced legal framework that facilitates the resolution of financial distress for businesses and individuals, promoting economic stability and growth. The committee studies existing laws, identifies gaps, and proposes reforms to make insolvency processes transparent, predictable, and effective, ultimately helping financially distressed entities recover or restructure while protecting stakeholders' interests.