Starting a Members Voluntary Winding Up Under the MIL – Current Practicalities
- Calibre Corporate Services
- Jan 7, 2022
- 1 min read
On 19 December 2021, DICA unexpectedly published an announcement on its website stating that insolvency proceedings and windings up of companies must now be carried out under the Myanmar Insolvency Law 2020. However, the filing requirements for windings up in particular have not yet been updated from the previous Myanmar Companies Law 2017 requirements. This creates some complexity in dealing with the formalities for commencing windings up. In the below article, we review the requirements for a members voluntary winding up and suggest a potential practical way forward for navigating the complexity.