How Does the Corporate Insolvency Resolution Process (CIRP) Work?

Ancoraa Resolution11 Oct, 2023Finance

The Corporate Insolvency Resolution Process (CIRP) is a legal process for resolving the insolvency (financial distress that leads to the inability to pay debts) situation of a corporate debtor, a company that defaults on its payments to creditors. Insolvency resolution works either by providing the company the opportunity to revamp its operations and become financially stable or changing the ownership.