The development of insolvency law in Ghana

Insolvency is a phenomenon of increasing importance yet Ghanaian lawmakers and scholars shun the subject. The increasing access to finance across the country, however, raises significant concern regarding the treatment of over-indebtedness. This article explores the development of insolvency law in Ghana setting out the various stages of the life of the first through to the current laws enacted in the country. The research finds that while the current law dealing with personal insolvency is a relatively new legislation embracing key insolvency choices, the law dealing with corporate insolvency is dated depriving ailing companies the benefit of modern rescue efforts.