• The Insolvency and Bankruptcy Code 2016

    A landmark enactment for the purpose of ensuring economic stability and progress was notified on the gazette on 28th May 2016 as The Insolvency and Bankruptcy Act 2016. As the existing insolvency laws to recover the public debt became insufficient, the necessity of this enactment was inevitable. The purpose of this enactment at a glance is to bring the equity owners or holders debt obligations are transferred to the creditors through aligning of insolvency laws in national and international standards.