Africa-Press – Angola. The statute of the Recovery and Insolvency Administrator, in the event of approval of the draft law, will constitute a gain in improving the management of companies and protecting workers, with important significance in the classification of Angola in terms of the “doing business” indicator, according to the statement of reasons.
The diploma, which continues to be debated today, by deputies to the National Assembly, comprises 53 articles, distributed in nine chapters, and, if approved, will go to the final global vote, in session on March 24.
The report clarifies that the diploma promotes the improvement in the management of companies, in the process of judicial recovery or insolvency, and, ultimately, corresponds to the adequacy of Angolan legislation to the contemporary conditions of the practice of economic agents, thus promoting the increased competitiveness and defense of economic rights.
This proposal is part of the effort to materialize the National Development Plan (PDN) 2018-2022, approved by Presidential Decree nº 313/20, of 10 December, in the part referring to the improvement of the business environment and competition , which recognizes the need for a study to be carried out to identify the most appropriate mechanisms, as well as the implementation of the processes of recovery of companies and insolvency and of deepening their legal and regulatory framework, having as a reference the best international practices.
For MPLA parliamentary group deputy, Ovídio Pahula, the institutionalization of the judicial administrator and the insolvency administrator are two professional figures responsible for monitoring and enforcing all the guidelines of administrative acts, respecting the recovery and insolvency processes of companies.
The deputy clarified that the professionals will be responsible for the tasks foreseen in the diploma that is being discussed, so that there is a greater business environment, and recovery of companies and, even, create a greater environment for foreign investment. “This is the background of the legislative implementation. Those companies that are in an economically difficult situation will be recovered and create a good business climate for foreign investors, in the sense of making the economy more stable, more robust and improving the living conditions of our people”, he said.
The draft law, which submits the statute of the Recovery or Insolvency Administrator, will be supervised by the Superior Council of the Judiciary (CSMJ), and aims at the recovery of companies and the safeguarding of their respective jobs, according to the Minister of Justice and of Human Rights, Francisco Queiroz, during the presentation of the diploma, in a session held last week. The minister said that the document allowed the creation of two professional categories, with central functions, either in the extrajudicial or judicial recovery process, or in the insolvency process.
The first is the recovery administrator, and the second is the insolvency administrator.
He added that the recovery or insolvency administrators have the function, as assistants of the judge in the case, to supervise the fundamental aspects of the recovery or insolvency process, and must act as judicious, thoughtful and diligent managers.
Francisco Queiroz also clarified that in extrajudicial reorganization, the administrator is appointed by the parties, in judicial reorganization, and in insolvency, the administrator is appointed by the judge, observing the rules established in the Law and those that will be established by the present statute.
The emergence of these two figures, the judicial or extrajudicial administrator of insolvency, comes to solve or help to solve the recovery of companies so that they do not have effects on workers who would go into unemployment, reasoned the minister.
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