>
>
>
>
SPEED-Reports-2011-004 Insolvency Law

SPEED-Reports-2011-004 Insolvency Law

SPEED conducted an independent review of the draft law on business insolvency which was prepared in 2009 and is expected to be submitted in parliament later this year. The SPEED team deemed it necessary to assess the draft law’s strengths and weaknesses and determine if further revisions are needed before submission. The new law would completely overhaul Mozambique’s existing framework and replace it with a far more modern model conforming to international standards. The review found the draft law largely appropriate, though seeing that it is based on a Brazilian model, adaptations should be made in implementation. The review also elaborated interventions and resources that will be needed for transitioning to the new insolvency system, most particularly in judicial system training, related institutional reforms, capacity building for insolvency administrators and other associated professions (legal, management and accounting). SPEED will work with key stakeholders in government, parliament, the banking sector, unions, and private sector associations to help move the draft law to passage in parliament during the year. Additional resources on insolvency in Mozambique can be found here.

The information provided on this Web site is not official U.S. Government information and does not represent the views or positions of the U.S. Agency for International Development or the U.S. Government. This website is made possible by the support of the American People through the United States Agency for International Development (USAID.) The contents of this website are the sole responsibility of Nathan Associates Inc. and do not necessarily reflect the views of USAID or the United States Government