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Corporate Restructuring
- Part I - Internal Options -
What is Corporate Restructuring?
Corporate restructuring refers to the mechanisms, techniques or arrangements used to rejig the status-quo structure of a corporation to keep it afloat as a going concern. It is a change in the constitution or framework of a company in order to avoid collapse or to ensure sustainability.
Restructuring may involve:
- Alteration or modification of the rights of members;
- Alteration of the rights of debenture holders or a class thereof;
- Arrangement with another company - e.g. merger, amalgamation or takeover.
The Two Categories of Restructuring Options
| Internal Options | External Options |
|---|---|
|
|
Regulatory Bodies and Laws
| # | Body | Law |
|---|---|---|
| 1 | Corporate Affairs Commission (CAC) | Companies and Allied Matters Act, 2020 |
| 2 | Securities and Exchange Commission (SEC) | Investments and Securities Act, 2007 |
| 3 | Federal High Court (FHC) | Federal High Court Act |
| 4 | Central Bank of Nigeria (CBN) | CBN (Establishment) Act |
| 5 | Nigerian Investment Promotion Commission (NIPC) | NIPC Act |
| 6 | Nigeria Deposit Insurance Corporation (NDIC) | NDIC Act |
| 7 | Nigerian Exchange Limited (NEL) | ISA 2007 |
| 8 | Federal Competition and Consumer Protection Commission (FCCPC) | FCCPA 2018 |
| 9 | - | CFRN 1999 (as amended) |
| 10 | Securities and Exchange Commission | SEC Rules |
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