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Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) has stated the need to sustain the training of judges and key regulatory institutions to deepen institutional understanding in insolvency matters in the country.
BRIPAN President, Mr Chimezie Ihekweazu, made this known on Friday night at the BRIPAN Members’ Night Out and Induction Ceremony of 87 new members.
Ihekweazu, also a Senior Advocate of Nigeria (SAN), said the bespoke training for judges will enhance business recovery and insolvency practices in Nigeria and support business growth and development.
He said the development would promote sustainable insolvency regimes, especially in the context of economic reform and debt recovery frameworks.
He noted that the association had through targeted courtesy visits to the Chief Judge of the Federal High Court, strengthened the relationship between the bench and the insolvency bar in the last one year.
The BRIPAN president said those engagements had enhanced mutual understanding of insolvency processes and encouraged more consistent and firm judicial approaches to insolvency matters.
“These engagements have enhanced mutual understanding of insolvency processes and encouraged more consistent judicial approaches to insolvency matters.
“We are also actively planning joint trainings that will focus on arbitration and insolvency, as well as tailored sessions for registrars of court, with the goal of harmonising practice and interpretation,” he said.
Ihekweazu added that the association, in 2024, achieved several significant milestones which included capacity building, public sector collaboration and international participation.
He said BRIPAN had reinforced its secretariat and membership directory.
He stated that the institute would continue to tailor programmes to support insolvency law, cross-border insolvency, business rescue strategies, and ethical responsibilities of practitioners.
Ihekweazu added that BRIPAN’s insolvency future leaders programme would continue to hold to inspire and prepare the next generation of insolvency professionals.
“These sessions are designed to deepen professional competence and align our members with global best practices,” he said.
Ihekweazu urged the new inductees to master the frameworks of both Companies and Allied Matters Act and Asset Management Corporation of Nigeria Act as well as other relevant laws.
He stated that mastery of the frameworks was important to enhance their knowledge of business recovery and insolvency practices in the country.
“To our new inductees, welcome to BRIPAN and you must uphold the highest standards as your decisions can reshape the destiny of companies, employees, and creditors alike.
“As we look ahead, I am confident in our collective ability to push the boundaries of excellence in the insolvency profession,” he said.
