Conflated Arrangements: A Comment on the Company Voluntary Arrangements in the Proposed Nigerian Insolvency Act 2014
SSRN Electronic Journal
2015
- 1Citations
- 1,075Usage
- 1Captures
Metric Options: Counts1 Year3 YearSelecting the 1-year or 3-year option will change the metrics count to percentiles, illustrating how an article or review compares to other articles or reviews within the selected time period in the same journal. Selecting the 1-year option compares the metrics against other articles/reviews that were also published in the same calendar year. Selecting the 3-year option compares the metrics against other articles/reviews that were also published in the same calendar year plus the two years prior.
Example: if you select the 1-year option for an article published in 2019 and a metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019. If you select the 3-year option for the same article published in 2019 and the metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019, 2018 and 2017.
Citation Benchmarking is provided by Scopus and SciVal and is different from the metrics context provided by PlumX Metrics.
Example: if you select the 1-year option for an article published in 2019 and a metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019. If you select the 3-year option for the same article published in 2019 and the metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019, 2018 and 2017.
Citation Benchmarking is provided by Scopus and SciVal and is different from the metrics context provided by PlumX Metrics.
Article Description
The paper examines the effectiveness of the Company Voluntary Arrangements procedure (‘CVA’) in the proposed Nigerian Insolvency Act, 2014. Like in Insolvency Act 1986 of England and Wales, from which it has been transplanted, the CVA procedure provides a parallel procedure to the complex Arrangements and Compromise procedure in the Companies and Allied Matters Act, 2004. The first hurdle is the dearth of information on the challenges of the extant arrangements and compromise procedure, and the absence of the terms of reference on which the proposed reforms have been drafted. Nonetheless, relying on data culled from empirical studies, case law and practitioners’ proposals, three problems are identified for discussion: the absence of a moratorium which exacerbates the complexity of the Nigerian High Court system and undermines the process; lack of clarity; and a pervasive mistrust of arrangements proposed by insolvent companies. Unfortunately, the proposed CVA procedure does little to alleviate these problems. It elides arrangements and compromise with the CVA procedure. It also fails to propose an effective moratorium regime.
Bibliographic Details
Provide Feedback
Have ideas for a new metric? Would you like to see something else here?Let us know