Nigeria: Financial Restructuring

Share Purchase Agreements (SPAs) serve as critical risk allocation tools in corporate transactions, governing the transfer of company shares between buyers and sellers. This article examines the key legal risks inherent in SPAs and explores the protective mechanisms—including representations and warranties, indemnities, conditions precedent, and escrow arrangements—that parties employ to safeguard their interests throughout the transaction lifecycle.

In the high-stakes world of corporate finance, the line between a “going concern” and “legal vulnerability” is often thinner than a balance sheet suggests.

Cross-border restructuring often involves complex legal and regulatory requirements that can affect the timing, cost, and overall success of a transaction.

Following the announcement of fuel subsidy removal on 29th May 2023, during the President's inaugural speech, there has been increased hardship in Nigeria.

Corporate restructuring may be described as the process of rearranging a company's finances, operations, and management to improve its efficiency, effectiveness, and productivity.

This legal update highlights some of the standard contractual terms which characterize Eurobonds issued by Nigeria.