Insolvency Law Reform

Insolvency Law Reform involves updating and improving legal rules that govern how individuals and companies handle situations when they cannot pay their debts. The goal is to create a fair process that helps debtors resolve their financial issues while protecting creditors’ rights. Reforms may streamline procedures, encourage responsible borrowing, and promote economic stability by providing clearer pathways to insolvency resolution, whether through restructuring or liquidation. Overall, these changes aim to ensure the insolvency system is more effective, transparent, and equitable for all parties involved.