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Directors' Duties where a Company is in Financial Difficulties or Insolvent

Debt Recovery, Restructuring & Insolvency

Directors' Duties Where A Company Is In Financial Difficulties Or Insolvent

Where a company is in financial difficulties or otherwise insolvent, the director’s duty shifts to the interest of the creditors of the company. ...

Financial distress not a sufficient reason for grant of an Administration Order; an exposition of Section 531 of the Insolvency Act, 2015

Debt Recovery, Restructuring & Insolvency

Financial Distress Not A Sufficient Reason For Grant Of An Administration Order; An Exposition Of Section 531 Of The Insolvency Act, 2015

The Insolvency Act, 2015 (hereinafter referred to as “the Act) introduced the option of placement of a company under administration as opposed to the making of a liquidation order as soon as a compa...

PRE-INSOLVENCY MORATORIUM The Stopgap Solution for Financially Distressed Companies

Debt Recovery, Restructuring & Insolvency

Pre-insolvency Moratorium The Stopgap Solution For Financially Distressed Companies

The existence of any business depends on how best it is managed, and the strategies put in place to ensure its eternity. To stay in business and possibly grow, companies take credit which in some inst...

What Alternatives are there to Bankruptcy?

Debt Recovery, Restructuring & Insolvency

What Alternatives Are There To Bankruptcy?

Bankruptcy simply refers to the condition of a person who is unable to pay his/her debts as and when they fall due. According to the Insolvency Act (hereinafter “the Act”), it can only occur upon ...

Prejudicial Dispositions: Remedies Available to Creditors as a Result of Prejudicial Dispositions By Debtors

Debt Recovery, Restructuring & Insolvency

Prejudicial Dispositions: Remedies Available To Creditors As A Result Of Prejudicial Dispositions By Debtors

What are Prejudicial Dispositions? This refers to a disposition of land either by sale, charge, transfer, partition, exchange, assignment, surrender or a lease by a debtor who is unable to pay its c...

The Place of Insolvency Proceedings in Debt Recovery

Debt Recovery, Restructuring & Insolvency

The Place Of Insolvency Proceedings In Debt Recovery

A company is considered insolvent when it is unable to pay its debts when they fall due or when it is proved to the satisfaction of the Court that the value of the company's assets is less than the am...


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