US EditionNew law to give debtors 60-day protection window, and flexible repayment options
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New law to give debtors 60-day protection window, and flexible repayment options
New laws will be enacted soon to “help honest debtors return to economic productivity”. Cabinet has approved the Personal Insolvency, Financial Rehabilitation and Entrepreneurial Rescue Bill 2025 (Bill) to be tabled in Parliament. This Bill will repeal the Bankruptcy Act 1944 (Act). “The Bill aims to introduce a modern approach to personal insolvency, promoting the ‘fresh start’ principle to, as well as alternatives to formal bankruptcy,” said a…
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