BoG urges greater use of business restructuring over liquidation

‎Under Ghana’s Corporate Insolvency and Restructuring Act, 2020 (Act 1015), insolvency occurs when a business faces financial distress requiring legal intervention, while restructuring involves reorganising a distressed but viable business to restore its financial health and operations.‎Mr Amoako said effective restructuring could preserve jobs, protect creditors and safeguard productive assets and commercial relationships.‎”For a viable business, restructuring can preserve productive assets, jobs, commercial relationships and creditor value,” he said.