By Oluwaleye Adedoyin Grace
Abstract
The Companies and Allied Matters Act 2020 (CAMA 2020) introduced a significant change in Nigerian corporate insolvency law by incorporating formal mechanisms directed at the rescue and rehabilitation of financially distressed companies. In particular, the introduction of Company Voluntary Arrangements (CVAs) under sections 434–442 and administration under sections 443–549 represents a departure from the predominantly liquidation-oriented framework that characterised Nigerian corporate insolvency practice under the former Companies and Allied Matters Act 1990. The reforms recognise that corporate failure does not necessarily require the immediate death of…