OAL is undisputedly a leading Debt Recovery Law Firm in Nigeria. We are a market leader in Debt Recovery and Insolvency Practice and we adopt diverse legal tools for the recovery of debts. We have been successful in recovering huge debts for clients such as the Asset Management Corporation of Nigeria (AMCON) the body set up by the government to deal with toxic assets in the ﬁnancial sector. Generally, our largest portfolio of debt recovery cases has come from Nigerian banks in their bid to recover non-performing loans.
It is not unusual for banks and other financial institutions in the business of advancing loans for interest to have non-performing loans and debts owed by customers. Debt obligations also arise from day to day commercial transactions entered into by other business entities.
Our recovery process starts with a well laid down strategy which is pursued with vigour until the matter is resolved.
Our ﬁrm has a strong Insolvency practice and offers comprehensive services in corporate restructuring led by commercial insolvency, insolvency-related litigation, negotiated settlements, enforcement of security interest, and corporate debt restructuring. We represent many clients including public and private companies, ﬁnancial institutions, etc.
Our lawyers have been appointed as receivers/managers and liquidators of insolvent entities and assets. In addition, we have expertise in conducting forensic investigations by way of comprehensive due diligence.
As a Debt Recovery and Insolvency Law Firm in Nigeria, OAL is a member of INSOL and the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN).
Our Insolvency services include:
- Negotiation with Creditors for Settlement
- Acquisition and Sale of Distressed Assets
- Restructuring under Arrangement with Creditors
- Bi-lateral Debt Restructuring Liquidation
- Enforcement of Security Interest Facility
- Security and Credit Reviews for Lenders and Borrowers