Speaking at a joint two-day conference under the theme; Insolvency and Intellectual Property Rights in the face of COVID-19, the URSB Director Insolvency and Receivership Mustapher Ntale said they have so far received about three top companies which have formally exited the market citing covid.
He adds that they have also received reports of several entities which have not formally exited business but are going through dire financial challenges.
Officiating at the conference, the justice, and constitutional affairs minister Prof Ephraim Kamuntu said the government is revising laws to ensure that costs involved in business formalization and Intellectual property registrations are reduced.