COVID-19 crisis: Corporate Rescue Mechanism/COVID-19危机:企业救援机制
As the COVID-19 crisis continues to take its toll on the economy, many companies that are facing financial difficulties have been exposed to the risk of insolvency. In the current climate, there is no doubt that struggling companies would have to resort to some form of corporate restructuring in order to avoid being liquidated. The Companies Act 2016 (“CA 2016”) provides two option of corporate rescue mechanism to rehabilitate the businesses of distressed companies.