MANAGEMENT AND COMPANY'S LIQUIDATION IN NIGERIA: A COMPARATIVE ANALYSIS OF WINDING UP OF COMPANIES IN SOUTH AFRICA AND GHANA

Abstract

A company comes into existence by a legal process and when it desires to end its existence, it must again go through the legal process of winding up of its affairs. Keeping in mind the forgoing contention, there are established laws in Nigeria on the various mode of the winding up. However, insolvency is one of the grounds of winding up of a company. In this work we shall attempt to consider the various mode of winding up of a company under the Companies and Allied Matter Act 2020. The provision relating to both compulsory and voluntary winding up shall also be examined. The work will critically study the laws and the procedures for winding up with a view of comparing with other jurisdictions. The work will further delve into making a comparative analysis of the procedures, processes and provisions under companies and allied Matter Act 2020. It will also attempt to point out the difference in the procedure of winding up of a company in Nigeria, if any with other jurisdictions. The work will conclude by making appropriate recommendations where necessary.