Master of Laws




Professor Thomas Telfer & Professor Alfonso Nocilla


An important indicator of a country’s economic strength is the resilience of its businesses, as evidenced by their ability to survive insolvency, reorganize, and return to profitability. Before a rescue process is commenced, it is important to determine the viability of the company to avoid deferred liquidations. When a viable corporation is insolvent, the going concern of the company should be preserved because the corporation is worth more to its creditors alive than dead. When a corporation is not viable, the swift sale of the assets as a going concern has the same purpose of rescuing the business to maximize value for its creditors. This thesis compares restructuring in Nigeria with restructuring in Canada to decipher ways to develop corporate restructuring in Nigeria. To enable Nigeria to compete globally, recommendations are provided to adopt effective corporate and business rescue mechanisms.