An exemption order gazetted by the Government to provide temporary relief for companies facing financial difficulties during the Covid 19 pandemic lockdown, has been challenged as unconstitutional and ultra vires the powers of the Minister. The Companies (Exemption) Order 2020 provides temporary relief against bankruptcy action for companies in financial distress however it has also forced creditors to defer taking insolvency proceedings until after 2020. MORE.
- July 13, 2020
