Multi Creditor Work-Out Arrangement – The Bank of England (BOE) London Approach

During financial distress, the number of insolvency cases increases. Proceeds from the forced Sale Value of assets may not be sufficient to offset outstanding amounts due or satisfy all the creditors, in the event of multiple creditors. The CBN Financial Stability Report for 2017 shows that total non-performing loans (NPLs) grew by 14.59 percent from N2,084.92 billion at end-December 2016 to N2,389.11 billion at end-June 2017.

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