Evaluating the Law and Procedure of Receivership in Uganda

This article evaluates the law and procedure of receivership in Uganda. The article revealed that for creditors to recover any debt from the debtor in case of default in payment, creditors can appoint a receiver who will manage the property of the debtor to realize the debt. A receiver is appointed either through debentures, an instrument that takes effect when a receiver accepts the appointment in writing, or through court which is specified in the court order. It is in this wise that the article calls for increased public awareness of receivership through sensitization of the public by creating public seminars on receivership law and procedure, these will in return increase their knowledge of the law and procedure of receivership since receivership is one of strategy to deal with financially distressed companies or persons. More so, the qualification of a person to be appointed as a receiver should not be limited to only the professional qualification of a lawyer or accountant, but rather the receiver's character and reputation to be put into consideration which will limit the appointment of fraudulent receivers since professionalism alone does not guarantee a smooth process of receivership.