A Critical Appraisal of the Preventive Procedures for Companies in Difficulty under the OHADA Bankruptcy Law

This article provides a critical appraisal of the preventive procedures established under the OHADA Uniform Act on Bankruptcy Proceedings, enacted on September 25, 2015, which aims to facilitate the timely reorganization of distressed businesses and protect the interests of creditors. However, significant procedural and operational hurdles persist, including inefficiencies in the conciliation process, a lack of clarity regarding the roles of conciliators, and inadequate safeguards for stakeholder participation. By analyzing the strengths and weaknesses of the current preventive measures outlined in the Uniform Act, this research highlights the need for reforms that enhance the effectiveness of the OHADA insolvency regime. Furthermore, the study makes sound recommendations aimed at improving these preventive procedures to ensure they better serve their intended purpose of promoting sustainable business recovery in OHADA member states. Ultimately, this research aims to contribute to the ongoing discourse on enhancing corporate resilience in the face of economic challenges while providing actionable solutions to strengthen the existing framework.