Tag: insolvency
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GARIA renews call for insolvency laws
The Ghana Association of Restructuring and Insolvency Advisors, GARIA, is hopeful that the seventh Parliament to be inaugurated in January 2017, will facilitate the passage of the insolvency law to protect businesses from collapse. It follows the inability of the current Parliament to pass the law. GARIA, has expressed concerns over Ghana’s Companies Code describing…
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Gov’t interference in DKM acceptable – World Bank Executive
The Global Lead for Credit Infrastructure at the World Bank, Mahesh Uttamchandani has described as acceptable , government’s intervention in the DKM microfinance scam to help customers get back their investments. According to him, unlike corporate private entities, an insolvency involving financial institutions like DKM, have larger societal impact which have dire economic implications. “A…
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FDIs to Ghana risk decline due to insolvency regime
The Ghana Association of Restructuring and Insolvency Advisors (GARIA) has cautioned of alarming consequences on Foreign Direct Investments (FDIs) to Ghana, if efforts are not intensified to develop the country’s insolvency regime. GARIA argues that the current practice where businesses are compelled to shut down over huge debts, downgrades the country’s reputation in attracting investments.…