Parliament on Monday witnessed a staged walkout by the minority as the chamber was considering the Corporate Insolvency Bill, 2019.

According to the Minority Chief Whip, Mohammed Muntaka Mubarak, it was inappropriate for the Speaker of Parliament, Prof Mike Aaron Oquaye, to go ahead with the proceedings requiring members to vote because they don't form a quorum.

The Corporate Insolvency Bill which was supposed to be passed within the first quarter of 2019 is expected to promote efficient closure and transfer of assets of businesses which are no longer viable, and a proper winding up of businesses where the members for other reasons, decide to cease operations.

The bill when passed seeks to improve the quality of the legal regime for corporate bodies and their administration when they become insolvent.

More to follow...

Source: www.ghanaweb.com