The Bank of Ghana (BoG) has urged greater use of business restructuring to rescue viable companies facing financial distress, saying liquidation should not be the first option when businesses can be restored to financial health.
Elliot Amoako, Head of the Resolution and Restructuring Unit at the BoG, said some companies face temporary liquidity constraints that could be addressed through effective restructuring rather than immediate liquidation.
Amoako made his remarks on Tuesday at a masterclass organised by the Chartered Institute of Restructuring and Insolvency Practitioners (CIRIP) as part of the institute’s 20th anniversary celebrations, according to the Ghana News Agency (GNA).
He said restructuring could involve renegotiating…