The enactment of the new 2020 Insolvency Law ("Insolvency Law") on 14 February 2020, which was made effective on 25 March 2020 has cast the framework for corporate insolvency, personal insolvency as well as rehabilitation and corporate rescue in Myanmar. In addition to these changes, the Insolvency Law also provides for the roles and powers of a liquidator appointed in order to wind up a company.