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srilawsby aturio
As enacted
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Part XI · Micro Small Medium Enterprise (MSME) Company Debt Restructuring Arrangements

276. MSME Company Debt Restructuring Arrangements

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

This Part establishes a MSME Company Debt

Restructuring Arrangement procedure, under which a small company, with the assistance of a personal insolvency proposer or personal insolvency administrator, can negotiate a flexible repayment arrangement with its creditors, in satisfaction of the company’s outstanding liabilities.

(2)

The

MSME

Company

Debt

Restructuring

Arrangement procedure aims to enable small companies to achieve economic rehabilitation, avoiding liquidation and the unnecessary expense and complexity of administration.

(3)

The MSME Company Debt Restructuring Arrangement procedure aims to enable the rehabilitation and rescue of

MSME companies through the restructuring of debts via negotiation between companies and creditors.

Read on from s 277

Part XII

Read on from Part XII

Part XIII

Read on from Part XIII

Part XIV

Cross - Border Insolvency

Read on from Part XIV

Part XV

Read on from Part XV

Part XVI

Read on from Part XVI

Part XVII

Read on from Part XVII

Schedules