Companies and Allied Matters Act (repeal and re-enactment) bill 2018

The Companies and Allied Matters Act (Repeal and re-enactment) Bill recently passed by the Senate contains several innovative provisions in the context of Nigerian Company law. One of these is the introduction of company voluntary arrangements and administration into Nigerian company law. If passed into law in its current form, the insolvency regime in Nigeria will have a dual aim: saving viable businesses and ensuring that non-viable businesses can efficiently exit the market.

 

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