The instrument, which emanates from Law no. 13/21 of 10 May - Legal Regime for the Recovery of Assets of Companies and Insolvency -, aims at the recovery of companies and the safeguarding of their respective jobs.
This legal diploma was approved by the plenary session of the National Assembly (parliament) with 154 votes in favour, no votes against and no abstentions during the second ordinary plenary meeting referring to the fifth legislative session of the fourth legislature.
According to the Minister of Justice and Human Rights, Francisco Queirós, Law No. 13/21 of 10 May gave rise to two categories of professionals who perform central functions both in the extrajudicial or judicial recovery process and in the insolvency process.
"The first is the recovery administrator and the second is the insolvency administrator", he said, during the presentation of the law to the deputies.
The recovery or insolvency administrators "have the function of assisting the judge in the case to supervise the fundamental aspects of the recovery or insolvency process and must act as judicious, thoughtful and diligent managers".
"In extrajudicial reorganization, the administrator is appointed by the parties, while in judicial reorganization and in insolvency the administrator is appointed by the judge observing the rules established by law and those that will be established by the present statute", he explained.
The proposed law that proves the Statute of the Recovery or Insolvency Administrator gives new powers to the CSMJ and "establishes the disciplinary regime for administrators, as professionals".
"The emergence of these two figures of the judicial or extrajudicial administrator of insolvency comes to resolve or help resolve the recovery of companies so that it has no effects on workers who would go into unemployment", said the Angolan minister.
On the other hand, he added, "this law is also part of the process of reform of justice and law, as you will remember, the Sala do Comércio was created last year here in Luanda, which deals precisely with bankruptcy and insolvency proceedings".
"And it was necessary to create the figure of the person who will manage and recover these companies", he stressed.
The deputies who approved the law proposal, which will now be sent to the specialized committees, highlighted the relevance of the legal instrument in the socio-economic sphere, admitting that it should "make the business fabric stronger".
"We also welcome the proposal to create the National Supervisory Council for the Recovery or Insolvency Administrator, which will be supervised by the CSMJ", said the deputy from the Popular Movement for the Liberation of Angola (MPLA, in power), Diógenes de Oliveira.
For the deputy of the Broad Convergence for the Salvation of Angola – Electoral Coalition (CASA-CE, opposition) Alexandre Sebastião André, the diploma now approved "is extremely important for regulating the administrators of both recovery and insolvency".
The proposed law on the statute of the recovery or insolvency administrator "is timely, necessary and aims to create complementary conditions for the implementation of the legal regime approved by Law No. opposition), Manuel Muxito.
The Angolan deputies also approved in this session the draft resolution creating the Angola/Turkey Friendship and Solidarity Group.
The draft resolution approving the Regulation on the Distribution and Use of the Badge of Deputy to the National Assembly of the Republic of Angola and the draft resolution on the Report and Account of the National Assembly for the year 2019 are being discussed behind closed doors.
