The Restructuring and Insolvency Specialists Association (Bahamas) - The Bahamas

The Restructuring and Insolvency Specialists Association (Bahamas) - The Bahamas
The Restructuring and Insolvency Specialists Association (Bahamas) - The Bahamas

Directors: Zelma Wilson, Ernst &Young Igal Wizman, Ernst & Young Sophia Rolle-Kapousouzoglou, Lennox Paton RISA Bahamas was incorporated on December 12, 2016 as a non-profit professional organization for those practicing restructuring and insolvency within The Bahamas. A principle focus of the organization is on professional education, training and being a conduit for possible legislative changes. RISA Bahamas’ vision is to become a key contributor to the credibility and sustainability of the restructuring and insolvency profession in The Bahamas and provide a forum for professionals to collaborate in relation to current technical, legal and regulatory issues facing the industry. The Bahamas has a well-established financial services industry and is a reputable centre for international business. The growth of the financial services industry is fueled by a highly educated local workforce and a long tenure of excellence in financial services, creating a foundation of skill and experience that is recognized and trusted worldwide. The four largest global accounting firms and a number of other firms all have operations in The Bahamas and there is a robust legal community. It is essential that there is continued modernization of The Bahamas’ insolvency legislation to keep pace with international developments and to complement the country's standing as a leading offshore financial services jurisdiction. The primary insolvency legislative framework consists of the Companies (Winding Up Amendment) Act, 2011, the Companies Winding Up Rules, 2012, the Foreign Bankruptcy Proceedings (International Co-operation) Rules, 2012, and the Insolvency Practitioners Regulations, 2012. RISA Bahamas seeks to promote, support, or propose changes in the laws and regulations to continue to boost the legal framework of the industry. Should you wish to learn more about RISA Bahamas please visit www.risabahamas.com or e-mail risabahamas@gmail.com