INSOL Europe/LexisNexis coronavirus (COVID-19) Tracker of Insolvency Reforms—Brunei

INSOL Europe/LexisNexis coronavirus (COVID-19) Tracker of Insolvency Reforms—Brunei

We look at the reforms to the insolvency law of Brunei prompted by the coronavirus (COVID-19) pandemic. Written by Nava Palaniandy, Partner of Ahmad Isa & Partners. Nava is the author of the Bruneian chapter of Corporate Restructuring and Insolvency in Asia 2020 published by the Asian Business Law Institute (ABLI). 

Supporting and assisting businesses—the Bruneian way

Brunei Darussalam, an oil-rich wealthy nation in Southeast Asia, has so far reported less than 150 confirmed coronavirus cases and three deaths. While the number of cases is much lower compared to other places in the region and beyond, the country will not be able to escape unscathed from the economic fallout of the pandemic, especially its private sector. Fully aware of this, the Government of Brunei has introduced a number of measures to support and assist businesses.

Lessen financial burden

In particular, to lessen the financial burden on affected businesses (and individuals), an economic relief package worth an estimated total of BND 250m came into effect on 1 April 2020. This package, together with

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About the author:

Neeta started her legal career at Allen & Overy in 2008 in the midst of the global financial crisis and the collapse of Lehmans where she gained most of her paralegal experience.

Neeta also did a short stint in litigation at the Revenue and Customs Prosecutions Office in 2006. Neeta graduated with a 2:1 honours degree from University of London, Queen Mary College and went on to obtain a distinction from the College of Law in the Legal Practice. She has been working at Lexis Nexis since April 2013.