Abstract:
The purpose of this article is to explore some key insolvency issues, which will be
highly selective for this article, and to identify the weaknesses and inconsistencies
in the existing framework on insolvency. Rwanda does not have an efficient and
effective framework on insolvency, and the article argues that there is a need for
an improved insolvency law regime. In view of the weaknesses and inconsistencies,
it is vital to consider international best practices such as the United Nations
Commission on International Trade Law (UNCITRAL) Legislative Guide on
Insolvency and the UNCITRAL Model Law on Cross-border Insolvency as the
basis needed to deal with different aspects or elements of the Rwanda insolvency
law. The value of this article lies in the insights it offers into the current framework
on insolvency and the opportunity given to address the inconsistencies, weaknesses
and uncertainties that invariably arise from the law.
