22019Aug
Mozambique: Status of the Insolvency Administrator

Mozambique: Status of the Insolvency Administrator

The status of an Insolvency Administrator, being either a natural or a legal person, was established in terms of Decree no. 36/2019 published on 16 May 2019 (“Decree“) and comes into force on the 14 August 2019 in conformity with the Legal Regime of Insolvency and Recovery of Commercial Entrepreneurs, approved by Decree no. 1/2013, of 4 July 2013.

The Decree sets out the processes for admission as an Insolvency Administrator, which admission is subject to a certification granted by the Ministry of Justice, Constitutional and Religious Affairs (“Ministry“). The certification will only be granted once the candidate has successfully completed the access exam consisting of both a written and an oral test administered and conducted by the Ministry. Once the candidate is successful and receives an order of admission, such candidate must, within a period of 30 days after admission and after payment of the prescribed fee, submit a request for the corresponding enrolment before the Ministry. The candidate’s official recognition only becomes effective upon the investiture and delivery of the qualification certificate, which occurs within a period of 30 days following the enrolment.

Any person who carries out the role of an Insolvency Administrator in various roles such as that of a lawyer, economist, company administrator or accountant, is subject to the abovementioned enrolment and registration. The actions performed by employees of companies who carry out the role of Insolvency Administrator, but who are not dully registered, are considered null, even if such employee is an Insolvency Administrator. Therefore, in order for a person to have the ability to carry out the tasks of an Insolvency Administrator, registration is a mandatory condition.

Those natural or legal persons appointed as Insolvency Administrators prior to the coming into force of the Decree may only maintain that capacity without the abovementioned certification for a period of two years from the date of commencement of the Decree.

Article written by Daisy Nogueira, Trainee Lawyer at Mozambican member firm CGA Associados

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