Bankruptcies and Reorganizations: Judicial Actors Learn from OHADA in Saint-Louis

The OHADA National Commission of Senegal, in partnership with the Association of Judicial Representatives of Senegal (AMJS), is organizing a seminar in Saint-Louis dedicated to strengthening the capacities of judicial actors on the implementation of the OHADA Uniform Act on the organization of collective procedures for the settlement of liabilities.

For three days, judges from the bench and the prosecution, judicial administrators and other actors in the judicial chain exchange information on the mechanisms for preventing and dealing with business difficulties.

At the opening of the proceedings, the president of AMJS, Mr. Isma Daddis Sagna, recalled the importance of this text, adopted in 1998 and revised in 2015, which notably emphasizes prevention through preventive settlement and conciliation, as well as the recovery of companies in difficulty.

Discussions focus in particular on insolvency, economic and financial analysis, preventive settlement, conciliation, and judicial reorganization. The role of the public prosecutor's office and coordination between the various stakeholders are also central to the discussions.

For Me Sagna, the judicial administrator should be seen more as an "artisan of the second chance " , tasked with both seeking recovery solutions, protecting the interests of creditors and preserving, as much as possible, employment and the means of production.

The president of AMJS also praised the commitment of the OHADA National Commission and the Directorate of Civil Affairs and the Seal to the training of professionals.

The organizers hope that, at the end of the seminar, they will be able to produce concrete recommendations for a more effective and harmonized application of collective procedures in Senegal.