Security of Investors’ Interest under Winding up Proceedings The Nigerian Experience

Abstract

So many factors contribute to death of businesses globally. The economic meltdown experienced in various Countries across the world especially in 2008 brought with it; inevitable stifling and eventual folding up of businesses. The current downslide of oil prices has in no small measure added to the woe suffered by businesses. The Nigerian case is particularly pathetic owing largely to her over dependence on oil revenue for economic survival.The health of companies’ operations is directly proportional to the health of its host Country’s economy. When every other option for survival fails, Companies are left with no other option than to wind up its businesses. This winding up some of which are voluntarily done and some foisted often leave investors who have committed their wealth into the company’s businesses in a quandary.Their (Investors) recovery or at least survival strategies are dependent on what the Laws and Government Policies have in stock for them. This seems to be the fulcrum around which this article oscillates.

Keywords: Security of Investors’; Nigeria; Company; Winding up