Insolvency and Arbitration- Not Easy Bedfellows for 2017 BRIPAN Fellowship Workshop

The recession has led to an increase in the number of insolvent entities. Insolvent Defendants are more and more common. The use of arbitration rather than litigation as a preferred means of dispute resolution has seen a remarkable increase in recent times. With this trend, many parties now find themselves contemplating claims (based on contracts with arbitration agreements) against insolvent entities or in dispute with a party who becomes insolvent.

“Insolvency” simply means the state of being insolvent; inability to pay one’s debts.
The Insolvency regime in Nigeria is governed primarily by the provisions of the Companies and Allied Matters Act Cap C20LFN 2004.

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