Insolvency Law: Basic walkthrough of the legal provisions of the Insolvency Act 2063

What is Insolvency? Insolvency refers to a situation of financial distress where a company is not able to meet its obligation pertaining to the debts owed and other liabilities. Section 2 (b) of Insolvency Act, 2063 of Nepal, the governing legislation on the matter, defines ‘insolvent’ as a state of being or appearing unable to […]