Legal Framework Governing Bankruptcy and Liquidation in Nigeria

Learning ObjectivesUpon reading this chapter, it should be possible to: 1. Track the history of bankruptcy and liquidation since ancient times.2. Compare insolvency practices in Europe, U.S., and Africa in the past.3. Compare the history of insolvency regulation in pre-CAMA 2020 Nigeria and Nigeria since to now.4. Learn about the philosophical basis of creditor-debent relations.5. Differentiate form of bankruptcy, insolvency, liquidation, receivership and administration.6. Examine such important notions as solvency tests, going concern, and wrongful trading.7. Assess the role of the changes in global economies in the development of contemporary insolvency systems.8. Evaluation of how the past models relate to contemporary practice in Nigeria.