Best Restructuring & Insolvency Lawyers in Uganda

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Founded in 2011
10 people in their team
English
Angualia Busiku & Co. Advocates (Registration Number 179893) is a law firm which is comprised of lawyers with previous experience in government service, corporate institutions and law firms. We believe in practicing few areas of law but with several years of experience. This kind of legal...
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Stabit Advocates
Kampala, Uganda

Founded in 2000
173 people in their team
English
Spanish
French
Kinyarwanda
Luganda
Chinese
German
Stabit Advocates LLP (https://www.stabitadvocates.com) is one of the top law firms in the world and stands as a beacon of legal excellence, recognized as one of the top law firms in East Africa, Africa and Globally with over 75 practice areas. Our firm is synonymous with top-tier legal expertise,...
Arnold Ashaba - The Ugandan Lawyer

Arnold Ashaba - The Ugandan Lawyer

15 minutes Free Consultation
Kampala, Uganda

Founded in 2018
10 people in their team
English
Arnold the Ugandan Lawyer focuses on Company law, Trademarks, Business law, Contracts law, intellectual property, Civil law, Family law, Due diligence, investigations, Construction law, Alternative dispute resolution, Foreign investments, Land law, real estate, Oil and gas, Immigration law, NGOs...

Founded in 2015
50 people in their team
Swahili
English
Musangala Advocates & Solicitors founded in 2015Is a well-established, Corporate & Commercial law practice firm duly approved by the Uganda Law Council and located in the heart of the capital city Kampala Uganda.Our legal team is endowed with a wealth of legal experience and expertise. We...

Founded in 1969
60 people in their team
English
Our VisionTo be the “go-to” law firm for our clients’ most important matters in East Africa.Our MissionTo exceed our clients’ expectations by constantly improving our client care and providing timely, affordable and creative solution - oriented advice.⦿ Founded in 1969. We are celebrating...
KTA Advocates
Kampala, Uganda

Founded in 2009
50 people in their team
Swahili
English
KTA Advocates (Karuhanga, Tabaro & Associates) is a specialized law firm focusing on technology, media, telecommunications, Intellectual Property & Construction law. We advise clients on the financing, exploitation and protection of their creative and commercial assets in these...
Nomad Advocates

Nomad Advocates

15 minutes Free Consultation
Kampala, Uganda

Founded in 2023
4 people in their team
English
French
Luganda
Nomad Advocates: Your Strategic Legal Partner in Kampala, UgandaAt Nomad Advocates, we are more than just a law firm; we are your dedicated partners in navigating the complex landscape of corporate and commercial law. Based in the vibrant heart of Kampala, Uganda, our mission is to provide...

Founded in 2004
50 people in their team
English
Who We AreC.R. Amanya Advocates & Solicitors Notaries Public and Commissioner for Oaths, are a leading full service law firm in Uganda. The boutique Ugandan law firm provides exquisite and tailor made legal services and solutions for its individual and corporate both domestic and international...
TARA ADVOCATES
Kampala, Uganda

Founded in 2019
11 people in their team
English
French
Luganda
We are a commercial law firm whose Vision is to ease doing business in Uganda by offering quality legal services. We specialize in Corporate law, Intellectual Property law, Tax, Contract law and Labour law.We are here to assist you in creating, negotiating, protecting and enforcing your legal...

Founded in 2000
50 people in their team
Swahili
English
Who we areMagezi, Ibale & Co. Advocates is a well-established law firm with over 20 years of  professional legal practice. We are approved by the Uganda Law Council to practice law in Uganda. Our legal team has vast practical legal experience and expertise accumulated over many years of...
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About Restructuring & Insolvency Law in Uganda

Restructuring and insolvency law in Uganda is the legal framework that governs how financially distressed businesses or individuals rearrange or wind up their affairs. The primary goal is to offers solutions that either help revive and continue businesses or, where this is not possible, ensure fair and orderly liquidation of assets to pay off creditors. This area of law aims to balance the interests of debtors, creditors, employees, and other stakeholders, while supporting the broader objective of economic stability in Uganda.

Why You May Need a Lawyer

Legal assistance in restructuring and insolvency can be crucial for a variety of reasons. Common situations where a lawyer may be needed include:

  • When a business is facing financial distress and needs to consider restructuring or formal insolvency proceedings.
  • If you are a creditor concerned about recovering debts from an insolvent company or individual.
  • If your company is threatened with winding-up or receivership actions.
  • When you are seeking advice on voluntary arrangements with creditors.
  • To understand your rights and obligations during liquidation, bankruptcy, or administration processes.
  • If you need to assess potential liabilities as a company director or manager during insolvency.
  • When contesting or challenging insolvency proceedings in court.
  • If you require guidance on restructuring options that comply with Ugandan law.

A lawyer helps protect your interests, ensures compliance with legal requirements, and provides the expertise necessary to navigate complex procedures.

Local Laws Overview

Restructuring and insolvency in Uganda is primarily governed by several statutes and regulations, chief among them the Insolvency Act, 2011, which consolidated much of the law in this area. Other relevant laws include the Companies Act, the Bankruptcy Act, and certain provisions in the Companies (Insolvency) Regulations.

Key aspects of Ugandan restructuring and insolvency law include:

  • Different procedures for individuals and companies. Companies may undergo administration, receivership, liquidation, or arrangements with creditors. Individuals may be subject to bankruptcy proceedings.
  • The role of insolvency practitioners, who supervise or conduct the administration, liquidation, or bankruptcy process.
  • Statutory moratoria that can provide breathing space to distressed companies from creditor actions while restructuring options are considered.
  • Order of priority in payment of debts, with secured creditors, certain employee claims, and taxes often taking precedence.
  • The possibility for voluntary arrangements, allowing companies or individuals to enter into formal repayment plans or settlements with creditors outside court.
  • Director and officer responsibilities, with potential penalties for wrongful trading or misconduct during periods of insolvency.
  • Cross-border insolvency provisions to address assets and operations in multiple countries.

These laws are designed to promote fairness, transparency, and efficiency in the handling of insolvency matters in Uganda.

Frequently Asked Questions

What is the difference between restructuring and insolvency?

Restructuring refers to efforts aimed at reorganizing a business’s debts and operations to avoid insolvency and continue trading. Insolvency, on the other hand, occurs when a person or company is unable to pay its debts as they fall due, often leading to formal legal processes such as liquidation or bankruptcy.

What are the main types of corporate insolvency proceedings in Uganda?

The main procedures include administration, receivership, liquidation (winding up), and company voluntary arrangements. Each procedure serves different purposes and is suited to different circumstances.

Can an individual be declared insolvent in Uganda?

Yes. Individuals who cannot meet their debt obligations may be declared bankrupt, which starts a legal process for distributing their assets among creditors and providing a fresh start once debts are settled.

What is the role of an insolvency practitioner?

An insolvency practitioner is a qualified professional appointed to manage insolvency processes such as administration, liquidation, and bankruptcy. They act in the interests of creditors and oversee the fair distribution of assets.

How does liquidation differ from administration?

Liquidation primarily aims to wind up and dissolve a company, distributing assets to creditors before closure. Administration focuses on rescuing the company as a going concern or achieving a better return for creditors than outright liquidation.

Are directors liable for company debts in insolvency?

Generally, a company’s debts are separate from its directors. However, directors may be personally liable if they are found guilty of misconduct, wrongful trading, or breaches of their fiduciary duties during insolvency.

Can creditors initiate insolvency proceedings?

Yes. Creditors who are owed a minimum specified amount can petition the court to initiate insolvency proceedings against a debtor company or individual.

What rights do secured creditors have during insolvency?

Secured creditors have priority in claiming against assets pledged as security. They can usually enforce their security, even during insolvency, subject to any statutory restrictions or moratoria.

Is there a way to avoid formal insolvency proceedings?

Yes. Alternatives such as informal workouts, restructuring negotiations, and formal voluntary arrangements can help debtors reach agreements with creditors without resorting to full legal proceedings.

How can I start insolvency or restructuring proceedings in Uganda?

The process typically starts by engaging a lawyer or insolvency practitioner, who will assess your situation, provide advice, and help prepare necessary documents to be filed with the courts or relevant authorities.

Additional Resources

If you are seeking more information or assistance, consider the following organizations in Uganda:

  • Registrar of Companies - handles registration and statutory filings for insolvency matters.
  • Uganda Law Society - provides directories of qualified advocates and insolvency practitioners.
  • Commercial Court Division of the High Court - deals with corporate and individual insolvency cases.
  • Ministry of Justice and Constitutional Affairs - source of official legislation and guidelines.
  • Financial sector regulators such as Bank of Uganda, particularly for financial institutions.

These bodies can offer guidance, forms, and information on accredited professionals who can provide hands-on legal advice.

Next Steps

If you believe you need legal assistance regarding restructuring or insolvency in Uganda, consider these practical steps:

  • Assess your financial position or the position of the company, and gather all relevant documents.
  • Seek early legal advice from a lawyer experienced in restructuring and insolvency law in Uganda.
  • Discuss potential options, risks, and the best course of action with your lawyer, including informal and formal solutions.
  • If required, engage a licensed insolvency practitioner to manage the process.
  • Ensure you understand your rights, legal obligations, and the potential consequences of each option.

Timely legal advice can make a significant difference in the outcome of restructuring or insolvency matters. Acting early can help protect your interests, minimize losses, and open up more effective solutions.

Lawzana helps you find the best lawyers and law firms in Uganda through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Restructuring & Insolvency, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Uganda - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.