Ghana Association of Restructuring & Insolvency Advisors (GARIA), held a two day event on 9th and 10th August, 2018 to sensitize the business community on the New Corporate Insolvency Bill. This event was held at the Accra Marriott Hotel.

Speakers at the event included Felix Addo, Anthony Oteng-Gyesi, Vicky Bright, Vish Ashiagbor and Jacob Saah. The speakers took participants through the history of the New Corporate Insolvency Bill, Ghana’s current rank on the Ease of Doing Business – Africa and World rankings and provided an overview on Insolvency and Restructuring
in Ghana.

The first legislation on insolvency in the Gold Coast was passed as the Gold Coast Bankruptcy and Insolvency Ordinance in 1857. This ordinance was replaced with new ordinances until 1962 when Professor Gower recommended the Insolvency Act, 1962 (Act 153), which was later passed.

Currently, GARIA was assigned the task of reviewing the Bodies Corporate (Official Liquidations) Act 180 and submitted its recommendations to a Committee of Experts on Company Law under the Chairmanship of Justice, Prof. Justice Date-Bah. The draft bill is presently in final drafting stage at the Attorney-General Department.

Click for more information on the New Corporate Insolvency Bill.