9 September 2020
In Part 1, we analysed the new corporate rescue and rehabilitation proceedings which is a key feature in the modernisation of Myanmar’s legal framework for insolvency. In Part 2, we will examine the next steps in the life-cycle of insolvency proceedings. Companies who were unsuccessful in the corporate rescue and rehabilitation plan, will transition to a winding-up processes.
We also discuss other circumstances of a winding-up, namely members and creditors voluntary winding up, followed by a court-ordered winding-up. Finally, we will examine the liquidator’s powers in the context of his or her general functions in such a winding-up and liquidation process.
For more information, please contact:
Geraldine Oh, Resident Partner, ZICO Law Myanmar
geraldine.oh@zicolaw.com
