Following a difficult year for the Japanese generics company, Nichi-Iko has said it aims to “revitalize and continue our business in the future and to drastically improve our financial position” after formally entering into a business turnaround alternative dispute resolution process. (Also see "Nichi-Iko Aims To Regroup As It Enters Turnaround Process" - Generics Bulletin, 25 May, 2022.)
The certified procedure allows Japanese companies to reach an agreement with its financial creditors out-of-court to avoid statutory insolvency proceedings....
