Comparative analysis of corporate restructuring practices: Nigeria, India and United Kingdom

Abstract

In today's competitive landscape, companies must continuously restructure to sustain growth and maintain their competitive  advantages. This paper employed a doctrinal research methodology to provide a comparative analysis of corporate restructuring  practices in Nigeria, India, and the United Kingdom, with a focus on how these practices differ in distinct economic and regulatory  environments. The analysis highlighted both similarities and differences in the restructuring strategies employed by companies in these  countries, shaped by their unique economic conditions, regulatory frameworks, and industry-specific challenges. The study found that  while all three countries provide mechanisms for financially distressed companies to reorganize their debts and continue operations, the  effectiveness of these strategies is largely influenced by local economic factors, the maturity of the legal infrastructure, and the specific  challenges faced by different industries. Based on these findings, the paper recommended that Nigerian companies consider adopting  best practices from India and the United Kingdom, such as the UK’s flexible restructuring tools and India’s time-bound insolvency  procedures, while carefully tailoring these strategies to fit Nigeria’s local economic realities. By drawing on these insights and adapting to  local conditions, Nigerian companies can enhance the effectiveness of their restructuring efforts, support sustainable growth, and  strengthen their position in both domestic and international markets.