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Successful resolution seen in 62% real estate insolvency cases

Dated on: Monday 12th June 2023

Experts have noted that despite the complexities involved, the resolution of insolvency and bankruptcy cases in the real estate sector has shown consistent progress. One of the key factors contributing to this progress is the potential for the government to introduce amendments to the existing code, allowing for tailored resolutions based on the specific nature of individual projects, rather than applying a rigid framework to the entire property sector. This flexibility is expected to enhance the performance of the sector and address the challenges faced by numerous homebuyers.

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