Patrica Mwase, the GCS partner for Malawi and a recognized expert on credit management and its associated services, has been appointed as an industry expert to a committee by the Ministry of Industry, Trade & Private Sector Development. The purpose of the committee is to assist the Government in finalizing its new Insolvency Bill.
Here are parts of the letter from the Secretary of Industry sent to Patrica few days ago:
“You may recall that the Ministry is working with the World Bank’s Global Insolvency Technical Assistance Programmed to develop a unified Insolvency law that will replace the current antiquated framework for individual and corporate insolvencies.
I am pleased to inform you that the 1st Draft is almost done. However, the complexity of the subject as can be seen from the attached bill and the need to involve key Government and private sector stakeholders from the onset requires that at every stage, the bill be reviewed by a technical working group in line with the usual consultation strategy as encapsulated in the MDGS in business environment reforms to ensure that the reforms enjoy the widest support possible.
I am therefore pleased to invite you to a meeting of local multidisciplinary experts to review the draft insolvency bill under BESTAP as per attached. The review will take place from the 10th to 14th October 2010 at Kuchawe in Zomba. It is hoped that by end of November 2010 the bill shall be finalized and submitted through the usual approvals as per the undertaking of the doing business team in the hierarchy of the Government Participants are therefore requested to arrive at KuChawe on the 10th October. BESTAP conditions shall apply”