WATCH THE VIDEO HERE The Federal High Court Headquarters has announced the creation of an ‘Insolvency Unit’ for the Court, aimed at addressing the implementation of laws relating to company restructuring and dissolution in Nigeria. According to the court, the laws related to “Company Voluntary Arrangements (CVA), Administration, Receivership, Winding Up (Dissolution), and various forms of restructuring of companies” in Nigeria. The unit was created following approval by the Chief Judge of the Federal High Court, Justice John Terhemba Tsoho. This was disclosed in a statement signed by Sulaiman Amida Hassan, Esq., Chief Registrar, Federal High Court of Nigeria, and made available to Naijaonpoint on Sunday. “The unit is created in line with global best practices on insolvency and to also provide specialized and standardized services on insolvency matters,” the official added. The Federal High Court has jurisdiction over the creation, formation, and operations of companies, among other company-related matters. According to the Companies and Allied Matters Act, the various modes for winding up (dissolving) a company are by the court, voluntary winding up, and winding up under the supervision of the court.
Federal High Court creates Insolvency Unit to address companies’ restructuring and dissolution in Nigeria
