Nigeria: Insolvency/Bankruptcy/Re-Structuring

A vessel under arrest is no longer earning, and every day it sits idle, it loses value. Ironically, vessel arrest, while intended to secure a lender’s recovery, can sometimes destroy the very asset from which that recovery depends.

When a company's assets are systematically stripped before creditors can enforce their rights, a critical legal question emerges: can creditors pursue independent claims against those responsible...

The activation of Nigeria's Cabotage Vessel Financing Fund in 2026 presents unprecedented opportunities for indigenous shipowners, but also significant recovery challenges for lending institutions.

Nigeria's aviation market relies heavily on leased aircraft, creating significant opportunities for international lessors and financiers. However, foreign exchange volatility, regulatory complexities, and enforcement challenges mean that every aircraft lease must be structured with asset recovery in mind. The critical question is not whether a lease will perform as expected, but whether lessors can swiftly protect and recover their assets when transactions become distressed.

Navigating debt recovery in Nigeria demands sophisticated knowledge of local commercial realities and an evolving statutory landscape. This guide examines the regulatory framework, procedural pathways, enforcement mechanisms, and the critical impact of insolvency proceedings on creditor rights and recovery strategies.

When a company's assets are systematically stripped before creditors can enforce their rights, a critical legal question emerges: can creditors pursue independent claims against those responsible...