The law relating to corporate insolvency in Tanzania: a search for a comprehensive rescue based approach

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University of Dar es Salaam
This study is a search for a comprehensive approach for the management of corporate insolvency in Tanzania. It evaluates the existing law in light of the changing socio-economic policies and the developments in the insolvency law taking place in other jurisdictions. The major premise for this study is that the existing law in Tanzania is lagging behind the recent development in the insolvency law, which incorporates modem forms of rescue approaches. The study evaluates the changing needs in handling corporate insolvency brought about by the shift in Tanzania to a free market economy. The shift has led to proliferation of private corporate activity which has gone hand in hand with decimation of parastatals and the consequent increase in the dominance of private companies in the economic arena. Chapter One provides background information on the corporate development in Tanzania and the necessity for introduction of modem insolvency law. Chapter Two lays the basis of the study. It traces the origin, evolution and development of the modem corporate rescue approaches. The chapter shows that the modem approaches center at procuring continued existence of corporate enterprises if such are economically viable instead of liquidating them. Chapter Three makes a comparative analysis of various modem corporate rescue regimes from some selected countries. The intention is to provide some lessons to Tanzania and see how Tanzania can benefit from the experiences of other nations. Chapter Four focuses on the state of the law on corporate insolvency in Tanzania. It analyses the law and appraises the attendant legal regime. Chapter Five comprises of observations, conclusions and recommendations for Tanzania.
Available in printed form, East Africana Collection, Dr. Wilbert Chagula Library, Class mark (THS EAF KRD.S32)
Conflict of law, Bankruptcy, Tanzania
Shaaban, B. (2005) The law relating to corporate insolvency in Tanzania: a search for a comprehensive rescue based approach. Master dissertation, University of Dar es Salaam. Dar es Salaam.