Author(s): Moreblessing Shingai Mutemachimwe, Newman Wadesango
This study investigates the effectiveness of judicial management procedures as a corporate rescue mechanism within the framework of insolvency law. It identifies and analyzes the limitations of current insolvency legislation in relation to its foundational objectives, particularly the necessity to safeguard the interests of creditors, shareholders, and society. Utilizing a quantitative research approach, data were collected through structured questionnaires. The findings reveal significant shortcomings in the judicial management process, highlighting its applicability solely to registered companies while neglecting other business entities. Additionally, it was discovered that individuals eligible for appointment as judicial managers are not required to possess formal qualifications in business management, which is critical for the successful revival of financially distressed companies. Considering these insights, the study advocates for comprehensive law reform aimed at enhancing the efficacy of corporate rescue procedures, thereby better serving the diverse interests involved.