Luanda - Angola’s Secretary of State for Justice Orlando Fernandes Monday stressed the importance of Draft Law on Recovery and Insolvency, which has been under debated in National Assembly.
Orlando Fernandes, who was speaking at debate held in specialty in the Parliament, stressed the role of the Bill in the management of the available resource.
He said that if approved, the Bill will ensure diligent and economic exercise of the management of the available resources, in addition to guaranteeing the achievement of the expected results at the lowest possible cost.
Addressing MPs, the Secretary of State said that the Recovery or Insolvency manager must focus, in the exercise of his role, on safeguarding of the interests for which he was appointed to.
He said that he is responsible for the acts performed, and for this purpose, he must exercise his functions in a diligent and responsible manner, using knowledge and techniques, under the compliance with the law and ethical criteria.
The new legal diploma, of the Executive initiative, expected to be forward to the Parliament on 24th this month for global approval, covers all national and foreign companies based in Angola.
"Any company, whether foreign or national, can go through this process", emphasised, the Secretary of State for Justice, Orlando Fernandes.
Prepared by the Ministry of Justice and Human Rights, the Draft Law focuses on the protection of workers and other interests of the Angolan State.
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