{"id":63254,"date":"2025-03-24T12:23:19","date_gmt":"2025-03-24T12:23:19","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=63254"},"modified":"2025-03-24T12:23:19","modified_gmt":"2025-03-24T12:23:19","slug":"high-court-moves-to-improve-debt-recovery-in-nigeria-establishes-insolvency-unit","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/03\/24\/high-court-moves-to-improve-debt-recovery-in-nigeria-establishes-insolvency-unit\/","title":{"rendered":"High Court Moves to Improve Debt Recovery in Nigeria, Establishes Insolvency Unit"},"content":{"rendered":"<p><em><strong>By Adenike Lawal<\/strong><\/em><br \/>\nIn a bid to streamline debt recovery and enhance corporate insolvency processes, the Federal High Court has established a dedicated Insolvency Unit, marking a significant step in Nigeria\u2019s legal framework.<\/p>\n<p>Announcing the initiative, Chief Judge Justice John Tsoho, through Chief Registrar Sulaiman Hassan, stated that the unit would strengthen the enforcement of insolvency laws and improve efficiency in debt resolution.<\/p>\n<p>The unit will operate under key legislative frameworks, including the Companies and Allied Matters Act (CAMA) 2020, the AMCON Act 2019 (as amended), the NDIC Act 2024, and the Bankruptcy Act. It will oversee processes such as Company Voluntary Arrangements (CVA), Receivership, Winding Up, and Corporate Restructuring.<\/p>\n<p>Hassan emphasized that the initiative aligns with global best practices and will provide specialized and expedited services to insolvency practitioners, ensuring a more structured and transparent debt recovery system in Nigeria.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Adenike Lawal In a bid to streamline debt recovery and enhance corporate insolvency processes, the Federal High Court has established a dedicated Insolvency Unit, marking a significant step in Nigeria\u2019s legal framework. Announcing the initiative, Chief Judge Justice John Tsoho, through Chief Registrar Sulaiman Hassan, stated that the unit would strengthen the enforcement of [&hellip;]<\/p>\n","protected":false},"author":29,"featured_media":63255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-63254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/63254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=63254"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/63254\/revisions"}],"predecessor-version":[{"id":63256,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/63254\/revisions\/63256"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/63255"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=63254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=63254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=63254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}