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Conflated arrangements: comments on the company voluntary arrangements in the proposed Nigerian Insolvency Act 2014

Adebola, B. (2015) Conflated arrangements: comments on the company voluntary arrangements in the proposed Nigerian Insolvency Act 2014. Nottingham Insolvency and Business Law e-Journal, 3. pp. 3-22. ISSN 2053-1648

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Abstract/Summary

The paper examines the adequacy of some of the reforms to be introduced by the proposed Nigerian Insolvency Act. In particular, it examines the provisions relating to the proposal of arrangements amongst stakeholder groups. The paper argues that arrangements have always been difficult to implement in Nigeria. It argues that the proposed provisions will not resolve the challenges faced in Nigeria. Reasons for this include in the main, the fact that there is no stay on enforcement while the arrangement is made. This issue has been contemplated several times in the UK but Nigeria did not consider it at all. The essay also indicates some of the challenges that will be introduced into the system where the provisions as set out are transplanted into Nigeria.

Item Type:Article
Refereed:Yes
Divisions:Faculty of Arts, Humanities and Social Science > School of Law
ID Code:67445
Publisher:Centre for Business and Insolvency Law, Nottingham Law School

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