Strengthening Tunisia’s Insolvency and Restructuring Framework

Location:

Tunisia

TCRS Number:

6632

Business sector:

Legal reform

Notice type:

Public

Status:

TC Com approved

PSD disclosed:

20 Dec 2016

Project Description

A new Insolvency Law was approved by the Tunisian Assembly of the Representatives of the People on 16 April 2016. The law was the culmination of a project launched by the Ministry of Justice (hereinafter the MoJ) in 2012 aimed at consolidating and modernising insolvency legislation. The EBRD, the IFC and, recently, the IMF all provided advice and input to the MoJ and other government stakeholders on the draft law. Although the Insolvency Law has some deficiencies, notably with respect to the limited rights of creditors to participate actively in insolvency proceedings, it represents an improvement on previous legislation and is relatively advanced for the SEMED region.

Following adoption of the Insolvency Law, there is a strong need for a revised legislative framework for the insolvency office holder (hereinafter IOH) profession and the new profession of pre-insolvency mediator or ‘conciliator’ introduced by the Insolvency Law. In addition, further support is needed for the development of the capacity of professionals (IOHs, conciliators and judges) implementing the reformed insolvency framework. The EBRD 2014 Insolvency Office Holder Assessment (hereinafter the EBRD IOH Assessment)  concluded that significant reform and capacity building was needed to strengthen the IOH profession in Tunisia.

In July 2015, the MoJ formally requested the assistance of the EBRD to carry out this project and confirmed its request for EBRD assistance by email on 28 April 2016.

The purpose of this Project is to assist the MoJ with the drafting of legislation relating to IOHs and the new profession of conciliators and to enhance the capacity of IOHs, conciliators and judges working within the new insolvency regime.

The Project is fully consistent with the Legal Transition Programme (LTP) new Operational Plan 2016-2018 which contemplates technical assistance in insolvency to promote reorganisation and to strengthen the capacity of insolvency office holders and judges.

It is also aligned with the Bank’s 2016 ‘Tunisia: Strategy Snapshot’, which refers to implementation of insolvency-related primary and secondary legislation, reform of the legal framework for IOHs and capacity building for judges, IOHs and conciliators as key policy reform activities for the restructuring and strengthening of the Tunisian financial sector.

Project Objectives

Legislative framework on insolvency in Tunisia is improved. Knowledge of stakeholders in the field of insolvency is enhanced.

TC Recipient Information

Ministry of Justice.

Project Cost

€ 280,788.00

Funding Summary

The assignment(s) under the project are expected to be funded through EBRD-managed donor funds.

Any competitive selections for business opportunities relating to this project will be published on the EBRD's website: Consultancy Procurement Opportunities.

Email: eSelection@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Access to Information Policy (AIP)

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Specific requests for information can be made using the EBRD Enquiries form.

Project Complaint Mechanism (PCM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g., through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s accountability mechanism.

The accountability mechanism independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit our webpage to find out how to submit a complaint through the confidential online form, by email, mail or telephone. We are available to discuss your concerns and answer any questions you may have about the submission or handling of complaints. Complainants’ identities may be kept confidential upon request.

Please note that after the appointment of the new mechanism Head in 2020, the revised Project Accountability Policy and Guidance will come into effect to guide case handling.

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