Make Insolvency Act attractive to save troubled businesses

The Covid-19 pandemic continues to provide a challenging business environment globally. In a bid to cushion businesses from the effects of the pandemic, governments worldwide have come up with a variety of measures, most of which have been geared towards addressing liquidity shortages and enhancing access to capital.

There is, however, growing concern that some of the measures proposed will lead to a significant rise in the debt levels of many businesses, thereby predisposing the businesses to inability to pay their debts as they fall due.