URSB hosts Restructuring Conference aimed at helping businesses create post-Covid -19 resilience

Kampala, Uganda 23^rd March, 2022; The Uganda Registration Services Bureau (URSB) together with the Judicial Training Institute are training Judicial Officers who adjudicate and administer justice in insolvency disputes. The training will equip Judicial Officers with the latest knowledge and skills of Insolvency law on how businesses can be supported to build resilience in order to survive and be successful in an increasingly uncertain world, especially after the impact left by the COVID-19 pandemic.

The training being held at the Mestil Hotel started on Wednesday 23rd March, 2022 and ends on Thursday 24^th March, 2022. Insolvency practitioners ranging from lawyers, accountants, chartered secretaries, financial experts will be trained on the latest practice with case studies and role plays by national and regional experts in the insolvency practice.

Panel debates across the 2 days will explore what it means to be resilient in the ‘new normal’ economy and, amongst other key topics, countering abuse of insolvency processes that threaten businesses survival, corporate governance practices, business restructuring, trends, lessons and new perspectives facing entities today.

The conference themed ‘Emerging Trends in Corporate Restructuring in Uganda; What to expect and what to prepare’ is aimed at achieving URSB’s contribution towards the National Development Plan (NDPIII) program of developing the private sector through strengthening the corporate rescue framework. The conference is also aimed at equipping judicial officers and insolvency practitioners with insight on the business rescue mechanisms and legal approaches available to financially distressed companies and individuals, and offering tips on protection of assets of insolvent debtors.

The training was officially opened by the Principal Judge, Justice Dr. Flavian Zeija and addressed by the URSB Board Chairman, Ambassador Francis K. Butagira as well as the Registrar General, Mercy Kainobwisho.

During the brief welcome remarks, Justice Zeija reminded participants that insolvency practice held a key role in promoting the survival of the huge number of small & medium enterprises (SMEs) through supportive legal resolutions.’ It is our responsibility to provide platforms for businesses through supporting their working processes to enable them navigate new challenges – like post-Covid challenges in the new digital economy and be as strong as possible in the face of upheaval. I look forward to what will no doubt be an informative and engaging training for our legal stakeholders.” Justice Zeija said

URSB Board Chairman, Ambassador Francis K. Butagira emphasized that these discussions will explore ways for SMEs to remain resilient in the yet to be stable economy. “This year’s conference will look at how businesses can be helped through the creation of sustainable long-term business plans that are able to keep pace with rapidly evolving working environments and technological developments that have cropped up since the advent of COVID-19’.

The Registrar General, Mercy Kainobwisho who is also the Official Receiver said the conference was timely since the COVID-19 pandemic had threatened the existence of businesses. ‘It is our role to establish a fair insolvency system which strengthens the business sector by offering confidence to investors and the public to make viable decisions that support economic growth. As URSB, our focus is on rescuing insolvent companies and individuals by encouraging them to adopt business rescue mechanisms’.  Kainobwisho added.

Presentations during the training were made by seasoned experts in insolvency an these included Hon. Justice Musa Ssekaana, Sir Alistair Norris, a retired Judge of the High Court of England and Wales, Hon. Justice Geoffrey Kiryabwire, Hon. Justice Mike Chibita, Counsel Kabiito Karamagi and Mr. Mustapher Ntale, director insolvency & receivership at URSB.

URSB is mandated among others to register businesses, marriages, Intellectual Property, administer insolvent companies and run the Security Interest in Movable Property Registry System (SIMPO).