Lawyer Udofia recommends international treaty as panacea for cooperate insolvency

A senior associate at Fidelis Oditah Law Firm, Dr. Kubi Udofia has advocated the use of international treaty and conventions in tackling challenges affecting cooperate insolvency.
  
According to him, deploying the two mechanisms would tackle the challenges to a very large extent.His words: “This can solve some of these challenges to a large extent. In my view, the limitation will still be that these treaties may not be politically active. For these treaties to deal with legal issues, they can only deal with procedural issues. In terms of facilitating the cooperation and coordination between courts with different jurisdictions on how to deal with issues where we have concurrent proceedings.”
  
Udofia who made this statement at the International Law Association 4th annual conference in Lagos, said some countries based on experience with other countries maybe a bit reluctant to enforce international laws over their own domestic law.

Her words: “The positive impact is the fact that going into these treaties, foreigners have been given guarantee to come into the country to invest in whichever area, and also allow them transfer their capital.”