Practice Areas

Follow us

IBC suspension likely to be extended by 3 more months amid Covid crisis

The government is likely to extend the suspension of the bankruptcy code by another three months to prevent companies from being forced into insolvency proceedings due to debt defaults triggered by the Covid-19 crisis.The government had suspended fresh proceedings under the Insolvency and Bankruptcy Code (IBC) for loan defaults on or after March 25, the day the country went into lockdown to contain the pandemic, for six months.

Asia Law Offices advised a major transnational strategic collaboration between its client, UAE-Based Pharmax Pharmaceuticals, and Swiss pharma major Acino Pharmaceuticals.

ALO represented Pharmax in the structuring and closure of entire transaction documents of the significant collaboration.

The collaboration framework extends to licensing, manufacturing, and supply of Acino formulations within the gastroenterology and the cardiovascular space throughout the Middle East and Africa.