City Research Online

Abstract

When the Ugandan government commissioned the Uganda Law Reform Commission (ULRC) to review and make recommendations for reform of Uganda’s company and insolvency laws at the turn of the millennium, the business and legal sectors had envisaged a future that represented modern insolvency laws and procedures that could foster business growth, continuity and support where businesses experienced financial difficulties. This was because, since Uganda’s independence from the British rule in 1962, the main legislation that dealt with corporate insolvency and bankruptcy matters, the Bankruptcy Act 1931 and Companies Act 1961 were over seventy and forty years old respectively. They were also complete replicas of the English Bankruptcy Act 1914 and the English Companies Act 1948. Therefore, the provisions that they prescribed on corporate insolvency and business rescue did not match modern insolvency challenges. Thus, a review was top of the agenda.

Publication Type:	Internet Publication
Additional Information:	This article has been published in its final form in CLRNNSpotlight and it's available online at: https://aclrh.net/2021/10/14/a-call-to-reinvigorate-corporate-rescue-in-uganda-as-an-emerging-economy/
Subjects:	H Social Sciences > HG Finance K Law > K Law (General)
Departments:	The City Law School The City Law School > Academic Programmes
Related URLs:	Publisher
SWORD Depositor:	Symplectic Administrator

Export

Downloads