Insolvency

Last year (see update ) the UK Government consulted upon a series of proposed amendments to insolvency arrangements for insurance companies. The proposed amendments included clarifications and enhancements to the court’s powers under section 377 of the Financial Services and Markets Act 2000 to order a reduction of the value of an insurer’s contracts…

Restructuring of companies in financial distress is on the increase globally. In line with this trend, Mozambican Insolvency Law (Decree law No 1/2013) provides greater protection to debtor companies in financial distress and gives them an opportunity to reorganise and restructure while continuing to operate their businesses.

The law covers three procedures namely judicial reorganisation…