New Insolvency Regulations 2022 Approved; Takes Immediate Effect [Download]

In the exercise of the powers conferred on him by Section 867 of the Companies and Allied Matters Act (CAMA) 2020, the Minister of Industry, Trade and Investment Otunba Richard Adeniyi  Adebayo has approved the Insolvency Regulations (IR) 2022 to govern: Company Voluntary Arrangements, Administration of Companies, Receivership/Managership, Winding-up by the Court, Creditors’ Voluntary Winding-up, Arrangements and Compromise, Netting and Dissolution of Incorporated Trustees

According to a public notice issued by the Corporate Affairs Commission  (CAC), the new  Regulations shall not apply to the Rules of Court relating to Insolvency applications made by the Chief Judge of the Federal High Court or any Court designated by an Act of the National Assembly as being vested with jurisdiction to hear cases arising out of the CAMA.”

A copy of the newly approved Insolvency Regulations can be downloaded below:

Source: DNLlegalandstyle

lawpavilion

Recent Posts

5 Must-Have Skills for Lawyers to Succeed in 2025

Introduction The legal profession has always been known for its high standards and unique demands,…

7 hours ago

Can the Court Impose a Willing Employee on an Unwilling Employer?

CASE TITLE: UNITY BANK PLC v. ALONGE (2024) LPELR-61898(CA) JUDGMENT DATE: 4TH APRIL, 2024 JUSTICES:…

2 days ago

Whether it is Necessary to Have Corroboration in A Rape Trial

CASE TITLE: ODIONYE v. FRN (2024) LPELR-62923(CA) JUDGMENT DATE: 5TH SEPTEMBER, 2024 PRACTICE AREA: CRIMINAL LAW…

2 days ago

Whether The Law on Limitation of Action Applies to Cases of Continuous Damage/Injury

CASE TITLE: EFFIONG v. MOBIL PRODUCING (NIG.) UNLTD (2024) LPELR-62930(CA)JUDGMENT DATE: 27TH SEPTEMBER, 2024PRACTICE AREA:…

2 days ago

Nature and Ingredients of The Offence of Criminal Trespass

CASE TITLE: ONWUSOR v. STATE (2024) LPELR-63031(CA) JUDGMENT DATE: 12TH NOVEMBER, 2024 PRACTICE AREA: CRIMINAL…

3 days ago

Illegality of Charging Protesters with Terrorism and Treason

By Femi Falana SAN Introduction Last week, President Bola Tinubu ordered the immediate termination of…

3 days ago