How the Changes in the Insolvency Act of Mauritius in 2009 Have Changed How Mauritius Handles Bankruptcy and Insolvency?
Insolvency is having more debts then assets that are available to pay them. Insolvency is also determined when a bankruptcy court decides that a person or a business cannot earn the needed funds to pay off all of their debts. The court can then choose to discharge some or all of the debts. This leaves the creditors not getting the money that they are owed. In many cases the insolvent is permitted to retain a few assets. The changes brought to the insolvency act of Mauritius in 2009 have modernized the way Mauritius deals with bankruptcy and insolvency. This ...
