Morocco aims to strengthen prevention and recovery mechanisms for struggling businesses
Morocco's Ministry of Justice is working to modernize the legal framework for businesses in difficulty, aiming to ensure economic continuity and enhance legal security for investors. Justice Minister Abdellatif Ouahbi highlighted the achievements of the reform of Book V of the Commercial Code, while acknowledging the need for continuous adaptation to economic transformations and new financing and investment practices. The government plans to deepen legal studies and continue the digitalization of procedures in commercial courts. This initiative seeks to improve the business environment, encourage investment, protect companies, and support job creation. The reform of Book V of the Commercial Code, introduced by Law No. 73.17, aimed to balance allowing businesses to continue operations when recovery is possible, preserving jobs, and guaranteeing creditors' rights. The Ministry recognizes that the economic landscape's rapid changes necessitate ongoing reform to ensure effective application of provisions for struggling businesses and to enhance their resilience to economic shocks. Future plans include further studies on legal provisions, continued digitalization of judicial procedures in commercial courts to simplify processes and improve access to justice, and strengthened coordination with various departments and institutions involved in the business climate and investment. Morocco also intends to engage more in international cooperation programs and working groups to learn fro