Luanda, ANGOLA, February 5 - The rights of workers are a priority in any process of bankruptcy or recovery of companies, being safeguarded, through their own mechanisms, said on Wednesday the Minister of Justice and Human Rights, Francisco Queiroz.,

 

The Cabinet minister, who was speaking at the opening of the workshop on Reforms of the Insolvency Legal Regime and Securities Guarantees, which takes place under the aegis of the Ministries of Justice and Human Rights and of Economy and Planning, stressed that workers' rights must be at the forefront priority for those who manage bankruptcy.

These mechanisms must be implemented through compensation or referral to other companies in the same group, with issues related to creditors, the State and the owner of the company afterwards.

According to the head of Justice and Human Rights, the proposed law on the Legal Regime for Business Recovery and Insolvency and on Securities Guarantees are in line with the Government's purposes.

These diplomas will ensure that companies can be recovered, as a first step, and that only, as a last resort, they will be liquidated (sold).

He stressed that in the area of ​​the Securities Guarantee Law, access to credit will imply strengthening the security mechanisms of private investment, with emphasis on the reinforcement of guarantees to be offered in credit operations, by consolidating the conditions, terms and procedures of their effectiveness.

Francisco Queiroz explained that public companies must be seen within the broader concept of the state's business sector, made up of public companies and co-subsidized companies.

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