The main objective of the Bankruptcy and Insolvency Act is to ensure the firm is liquidated as quickly as possible

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The main objective of the Bankruptcy and Insolvency Act is to provide a fair and orderly process for dealing with a company's debts, including the possibility of restructuring and reorganization, with the ultimate goal of maximizing the return for creditors while balancing the interests of all stakeholders, including employees and shareholders. The Act also aims to promote economic stability and encourage entrepreneurship by providing a mechanism for businesses to recover from financial difficulties.

The Main Objective of the Bankruptcy and Insolvency Act Is