Kampala, Uganda 23rd March 2022; The Uganda Registry Services Board (URSB) and the Judicial Training Institute train court officers to adjudicate and administer justice in insolvency litigation. The training will equip bailiffs with the latest insolvency law knowledge and skills on how businesses can be supported to build their resilience to survive and succeed in an increasingly uncertain world, especially after the impact left by the COVID-19 pandemic.
The training which takes place at the Hotel Mestil began on Wednesday March 23, 2022 and ends on Thursday 24and March 2022. Insolvency practitioners ranging from lawyers, accountants, chartered secretaries, financial experts will be trained on the latest practices with case studies and role plays by national and regional experts in the practice of insolvency.
Panel discussions throughout the 2 days will explore what it means to be resilient in the ‘new normal economy’ and, among other key topics, tackling the abuses of insolvency processes that threaten business survival, governance practices management, corporate restructuring, trends, lessons and new perspectives facing organizations today.
The theme of the conference ‘Emerging Trends in Corporate Restructuring in Uganda; What to expect and what to prepare’ aims to realize the URSB’s contribution to the National Development Plan (NDPIII) program of private sector development by strengthening the business rescue framework. The conference also aims to provide bailiffs and insolvency practitioners with an overview of business rescue mechanisms and legal approaches available to businesses and individuals in financial difficulty, and to offer advice on asset protection. insolvent debtors.
The training was officially opened by the Senior Judge, Judge Dr. Flavian Zeija and addressed by the Chairman of the URSB Board of Directors, Ambassador Francis K. Butagira as well as the Registrar General, Mercy Kainobwisho.
During the brief welcome address, Judge Zeija reminded the participants that the practice of insolvency plays a key role in promoting the survival of a large number of small and medium-sized enterprises (SMEs) through resolutions favorable legal..
“It is our responsibility to provide platforms for businesses by supporting their work processes to enable them to meet new challenges – such as post-Covid challenges in the new digital economy and to be as strong as possible in the face of disruption. I look forward to what will no doubt be an informative and engaging training for our legal stakeholders,” said Judge Zeija.
URSB Chairman of the Board, Ambassador Francis K. Butagira, stressed that these discussions will explore ways for SMEs to remain resilient in a still stable economy.
“This year’s conference will examine how businesses can be helped by creating long-term, sustainable business plans that can keep pace with rapidly changing work environments and technological developments that have arisen since the advent of COVID-19.”
Registrar General Mercy Kainobwisho, who is also the official receiver, said the conference was timely as the COVID-19 pandemic had threatened the existence of businesses.
“It is our duty to establish a fair insolvency system that strengthens the business sector by giving confidence to investors and the public to make sound decisions that support economic growth. As URSB, we focus on rescuing insolvent businesses and individuals by encouraging them to adopt business rescue mechanisms“, Kainobwisho added.
The presentations during the training were made by seasoned insolvency experts and these included; Hon. Justice Musa Ssekaana, Sir Alistair Norris, Retired Justice of the High Court of England and Wales, Hon. Judge Geoffrey Kiryabwire, Hon. Judge Mike Chibita, Attorney Kabiito Karamagi and Mr. Mustapher Ntale, Director of Insolvency and Receivership at the URSB.
The URSB is mandated, among other things, to register businesses, marriages, intellectual property, administer insolvent companies and manage the system for registering security interests in movable property (SIMPO).