On March 1, 2021 Amendment No. 4 of the Law was approved which provides for a temporary order under which debtors may (subject to similar terms that have to be complied with by any corporation seeking an order to instigate proceedings) petition to the court requesting to suspend proceedings in their matter for the purpose of debt restructuring.

In this special memorandum we inform you of the implications and impact of this amendment to the Law.

The translation was executed courtesy of Tomedes Translations