Download or read book Towards Reforming the Legal Framework for Secured Transactions in Nigeria written by Chima Williams Iheme and published by Springer. This book was released on 2016-08-16 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a valuable guide to one of the most challenging areas of commercial law, now frequently referred to as secured transactions, with a focus on Nigerian, Canadian and United States perspectives. A debtor’s ability to provide collateral influences not only the cost of the money borrowed, but also in many cases, whether secured lenders are willing to offer credit at all. The book proposes that increasing access to, and indeed, lowering the cost of credit could tremendously boost economic development, while at the same time arguing that this would best be achieved if the legal framework for secured transactions in Nigeria, and of course, any other country with similar experiences, were designed to allow the use of personal property and fixtures to secure credit. Similarly, the creation, priority, perfection, and enforcement of security interests in personal property should be simplified and supported by a framework that ensures that neither the interests of secured lenders nor debtors are hampered, so as to guarantee the continuous availability of affordable credit as well as debtors’ willingness to borrow and do business. The book further argues that in addition to the obvious preference for real property over personal property by secured lenders due to the unreformed secured-transactions legal framework in Nigeria, its compartmentalized nature has also resulted in unpredictability in commerce and the concomitant effects of poor access to credit. Through the comparative research conducted in this book utilizing the UCC Article 9 and Ontario PPSA as benchmarks, the author provides reformers with a repository of tested secured-transactions law solutions, which law reformers in the Commonwealth countries in Africa and beyond, as well as the business community will find valuable in dealing with issues that stem from secured transactions.
Download or read book Secured Transactions Law Reform in Africa written by Marek Dubovec and published by Bloomsbury Publishing. This book was released on 2019-10-31 with total page 586 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last few decades, many countries have reformed their secured transactions law. One of the main reasons has been the clear link between reform and the availability of credit, and the drive to improve access to finance, particularly for micro, small and medium-sized enterprises. This book focuses particularly on developing economies in Africa, which have legal frameworks influenced by English, French, Belgian, Roman-Dutch and other laws. Reform in this area of law across African countries has taken a number of forms, which are explored and discussed in this book. Secured Transactions Law Reform in Africa is a mixture of a critical description of the pre-reform law and practice, and the reform process itself. It also includes a comparative analysis of the legal provisions and an examination of the early results of the reforms. The book sets out a road map for the future of secured transactions reform; primarily in Africa, but also in other countries that have undertaken or are contemplating similar reforms. This book is the second in a series of books about Secured Transactions Law in countries around the world, and its reform, both on a national and an international scale. The first book, Secured Transactions Law Reform: Principles, Policies and Practice, was published in 2016.
Download or read book Micro Business Entities and the Reform of Personal Property Security Law in Nigeria written by Gregory Esangbedo and published by Cambridge Scholars Publishing. This book was released on 2023-10-27 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines an enactment that reforms Nigeria’s personal property security law by adopting the unitary system of secured transactions in replacement of the common law system. With the unitary system widely acclaimed for enhancing access to credit for small business entities, the book highlights the drawbacks of the enactment in the attainment of this objective. Being the foremost Nigerian book on the unitary system, it is a significant text for all stakeholders in the credit system within and outside Nigeria, including law academics, practitioners, students and financial regulators. It will interest those in countries that are intent on undergoing similar reform as it provides guidance on the unique features of the unitary system in contrast with those of the common law. In the spirit of reform, the book compares the Nigerian enactment to other similar enactments to highlight potential lessons in areas in which the Nigerian enactment appears to have lost traction.This book examines an enactment that reforms Nigeria’s personal property security law by adopting the unitary system of secured transactions in replacement of the common law system. With the unitary system widely acclaimed for enhancing access to credit for small business entities, the book highlights the drawbacks of the enactment in the attainment of this objective. Being the foremost Nigerian book on the unitary system, it is a significant text for all stakeholders in the credit system within and outside Nigeria, including law academics, practitioners, students and financial regulators. It will interest those in countries that are intent on undergoing similar reform as it provides guidance on the unique features of the unitary system in contrast with those of the common law. In the spirit of reform, the book compares the Nigerian enactment to other similar enactments to highlight potential lessons in areas in which the Nigerian enactment appears to have lost traction.
Download or read book Secured Transactions Law Reform written by Louise Gullifer and published by Bloomsbury Publishing. This book was released on 2016-10-20 with total page 616 pages. Available in PDF, EPUB and Kindle. Book excerpt: Secured transactions law has been subjected to a close scrutiny over the last two decades. One of the main reasons for this is the importance of availability of credit and the consequent need to reform collateral laws in order to improve access to finance. The ability to give security effectively influences not only the cost of credit but also, in some cases, whether credit will be available at all. This requires rules that are transparent and readily accessible to non-lawyers as well as rules that recognise the needs of small and medium-sized enterprises. This book critically engages with the challenges posed by inefficient secured credit laws. It offers a comparative analysis of the reasons and the needs for a secured transactions law reform, as well as discussion of the steps taken in many common law, civil law and mixed law jurisdictions. The book, written under the auspices of the Secured Transactions Law Reform Project, informs the debate about reform and advances novel arguments written by world renowned experts that will build upon the existing literature, and as such will be of interest to academics, legal practitioners and the judiciary involved in secured transactions law around the world. The text considers reform initiatives that have taken place up to the end of April 2016. It has not been possible to incorporate events since then into the discussion. However, notable developments include the banks decree passed by the Italian Government on 29th June 2016, and the adoption of the Model Law on Secured Transactions by UNCITRAL on 1st July 2016.
Download or read book Secured Transactions Law in Asia written by Louise Gullifer and published by Bloomsbury Publishing. This book was released on 2021-03-25 with total page 651 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays offers a unique insight and overview of the secured transactions law in many of the most important countries in Asia, as well as reflections on the need for, benefits of and challenges for reform in this area of the law. The book provides a mixture of general reflections on the history, successes and challenges of secured transaction law reform, and critical discussion of the law in a number of Asian countries. In some of the countries, the law has already been reformed, or reform is under way, and here the reforms are considered critically, with recommendations for future work. In other countries, the law is not yet reformed, and the existing law is analysed so as to determine what reform is desirable, and whether it is likely to take place. First, this book will enable those engaging with the law in Asia to understand better the contours of the law in both civil and common law jurisdictions. Second, it provides analytical insights into why secured transactions law reform happens or does not happen, the different methods by which reform takes place, the benefits of reform and the difficulties that need to be overcome for successful reform. Third, it discusses the need for reform where none has yet taken place and critically assesses the reforms which have already been enacted or are being considered. In addition to providing a forum for discussion in relation to the countries in question, this book is also a timely contribution to the wider debate on secured transactions law reform which is taking place around the world.
Download or read book Personal property law in Nigeria written by Mike A.A. Ozekhome and published by Pretoria University Law Press. This book was released on 2019 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses core issues of personal property law in Nigeria from a comparative perspective. It offers a detailed account of the laws governing personal property and the different lightweight reforms undertaken mainly through case law before the enactment of the Secured Transactions in Movable Assets Act in 2017. The book draws insights from the United States UCC article 9, being unarguably the first law that introduced the concept of modern secured transactions law, and was influential to many common and civilian law systems in reforming their personal property laws. Given that personal property law is fairly new in Nigeria, and also in Africa in general, the main aim of the book is to provide judges and academic researchers with a rich collection of tested solutions from jurisdictions that have experimented with modern secured transactions law for several decades. The primary and secondary works that were referenced in the book have tracked the different epochal shifts in legal thinking and their significances. This may assist scholars and judges in Nigeria to come up with bespoke interpretations of the Act and solutions to underlying problems on credit and security, that will satisfy the local conditions as opposed to copying the unaltered solutions from the United States and other advanced systems.
Download or read book Keeping Pace with Change Fintech and the Evolution of Commercial Law written by International Monetary Fund and published by International Monetary Fund. This book was released on 2022-01-27 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note explores the interactions between new technologies with key areas of commercial law and potential legal changes to respond to new developments in technology and businesses. Inspired by the Bali Fintech Agenda, this note argues that country authorities need to closely examine the adequacy of their legal frameworks to accommodate the use of new technologies and implement necessary legal reform so as to reap the benefits of fintech while mitigating risks. Given the cross-border nature of new technologies, international cooperation among all relevant stakeholders is critical. The note is structured as follows: Section II describes the relations between technology, business, and law, Section III discusses the nature and functions of commercial law; Section IV provides a brief overview of developments in fintech; Section V examines the interaction between technology and commercial law; and Section VI concludes with a preliminary agenda for legal reform to accommodate the use of new technologies.
Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Download or read book Reforming Collateral Laws to Expand Access to Finance written by Heywood W. Fleisig and published by World Bank Publications. This book was released on 2006 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most readers, especially those with car loans or home mortgages, know about "collateral"--property that the lender can take away from the borrower in the event that the borrower defaults. In low/middle income countries, it is understood that conservative lenders exclude firms from credit markets with their excessive collateral requirements. Usually, this is because only some property is acceptable as collateral: large holdings of urban real estate and, sometimes, new motor vehicles. Microenterprises, SMEs, and the poor have little of this property but they do have an array of productive assets that could easily be harnessed to serve as collateral. It is only the legal framework which prevents firms from using these assets to secure loans. In countries with reformed laws governing collateral, property such as equipment, inventory, accounts receivable, livestock are considered excellent collateral. This book aims to better equip project managers to implement reforms to the legal and institutional framework for collateral (secured transactions). It discusses the importance of movable property as a source of collateral for firms, the relationship between the legal framework governing movable assets and the financial sector consequences for firms (better loan terms, increased access, more competitive financial sector), and how reforms can be put in place to change the lending environment.
Download or read book Women Business and the Law 2020 written by World Bank Group and published by World Bank Publications. This book was released on 2020-04-24 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: The World Bank Group’s Women, Business and the Law examines laws and regulations affecting women’s prospects as entrepreneurs and employees across 190 economies. Its goal is to inform policy discussions on how to remove legal restrictions on women and promote research on how to improve women’s economic inclusion.
Download or read book Doing Business 2018 written by World Bank and published by World Bank Publications. This book was released on 2017-11-14 with total page 1217 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fifteen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2018 measures aspects of regulation affecting 10 areas of everyday business activity: • Starting a business • Dealing with construction permits • Getting electricity • Registering property • Getting credit • Protecting minority investors • Paying taxes • Trading across borders • Enforcing contracts • Resolving insolvency These areas are included in the distance to frontier score and ease of doing business ranking. Doing Business also measures features of labor market regulation, which is not included in these two measures. The report updates all indicators as of June 1, 2017, ranks economies on their overall “ease of doing business†?, and analyzes reforms to business regulation †“ identifying which economies are strengthening their business environment the most. Doing Business illustrates how reforms in business regulations are being used to analyze economic outcomes for domestic entrepreneurs and for the wider economy. It is a flagship product produced in partnership by the World Bank Group that garners worldwide attention on regulatory barriers to entrepreneurship. More than 137 economies have used the Doing Business indicators to shape reform agendas and monitor improvements on the ground. In addition, the Doing Business data has generated over 2,182 articles in peer-reviewed academic journals since its inception. Data Notes; Distance to Frontier and Ease of Doing Business Ranking; and Summaries of Doing Business Reforms in 2016/17 can be downloaded separately from the Doing Business website.
Download or read book The Price of Oil written by Bronwen Manby and published by Human Rights Watch. This book was released on 1999 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Attempts to Import Weapons
Download or read book UNCITRAL Model Law on Secured Transactions written by United Nations Commission on International Trade Law and published by . This book was released on 2016 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: The "Model Law" deals with security interests in all types of tangible and intangible movable property, such as goods, receivables, bank accounts, negotiable instruments, negotiable documents,
Download or read book Secured Credit Under English and American Law written by Gerard McCormack and published by Cambridge University Press. This book was released on 2004-06-14 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: McCormack examines English law on Secured Credit, highlighting its weaknesses, and evaluating possible remedies. Contains the text of Article 9.
Download or read book New Financing for Distressed Businesses in the Context of Business Restructuring Law written by Sanford U. Mba and published by Springer. This book was released on 2019-06-29 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the restructuring of distressed businesses, emphasizing the need for new financing during the restructuring process as well as during relaunch, and examines the role of law in encouraging creditor confidence and incentivizing lending. It describes two broad approaches to encouraging new finance during restructuring: a prescriptive one that seeks to attract credit using expressly defined statutory incentives, and a market-based one that relies on the business judgment of lenders against the backdrop of transaction avoidance rules. Securing new financing for a distressed business is a critical part of successful restructuring. Without such financing, the business may be unable to meet interim liquidity constraints, or to implement its restructuring plans. This book addresses related questions concerning the place of new financing as an essential component of restructuring. In general terms, the book explores how statutory interventions and the courts can provide support with contentious issues that arise from the provision of new financing, whether through new financing agreements or through distressed debt investors, who are increasingly gaining prominence as sources of new financing for distressed businesses. It argues that courts play a key part in preventing or correcting the imbalances that can arise from the participation of distressed debt investors. In this context, it critically examines the distressed debt market in emerging markets like Nigeria and the opportunity presented by non-performing loans, arguing that the regulatory pattern of market entry may dis-incentivize distress debt investing in a market that is in dire need of financing. The book offers a fresh and comparative perspective on restructuring new financing for distressed businesses by comparing various approaches (primarily from the US, UK and Germany) and drawing lessons for frontier markets, with particular reference to Nigeria. It fills an important gap in international comparative scholarship and discusses a living problem with both empirical and policy aspects.
Download or read book Gender Dimensions of Investment Climate Reform written by Sevi Simavi and published by World Bank Publications. This book was released on 2010-01-06 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic empowerment of women is increasingly seen as one of the most important forces behind economic growth and the fight against poverty. Indeed, women's economic participation in an economy as entrepreneurs, employees, and leaders is recognized as a measure of a country's dynamism and viability. 'Gender Dimensions of Investment Climate Reform' provides fresh solutions to common issues that women entrepreneurs face. It presents actionable, replicable, and scalable tools for promoting gender-sensitive investment climate reforms that would benefit both women and men. The book enables development practitioners and policy makers who are not gender specialists to diagnose gender issues in an investment climate; design creative and practical solutions and recommendations for addressing gender constraints; and monitor and evaluate the implementation of those recommendations.
Download or read book Doing Business 2010 written by World Bank and published by World Bank Publications. This book was released on 2009-09-11 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: The seventh in a series of annual reports investigating the regulations that enhance business activity and those that constrain it, 'Doing Business' presents quantitative indicators on business regulations and the protection of property rights that can be compared across 183 economies--from Afghanistan to Zimbabwe--and over time. Regulations affecting 10 stages of a business's life are measured: starting a business, dealing with construction permits, employing workers, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and closing a business. Data in 'Doing Business 2010' are current as of June 1, 2009. The indicators are used to analyze economic outcomes and identify what reforms have worked, where and why.
