Vintan Willgis Mbiro is an experienced and diligent Liquidator, Receiver, and Manager with a proven track record of efficiently and competently handling insolvency cases and liquidation processes in Tanzania.
Vintan possesses strong analytical skills, attention to detail, and a thorough understanding of Local Laws and Regulations governing insolvency and liquidation procedures.
Professional Experience.
Vintan Willgis Mbiro has managed and overseen liquidation processes for several companies in Tanzania. In so doing, compliance has always been ensured with legal requirements and has maximized returns for creditors.
Have demonstrated the ability to handle high-pressure situations and complex insolvency cases with professionalism and integrity.
Have a proven record of building strong relationships with stakeholders, including creditors, legal professionals, regulatory authorities, and specialized service providers like security companies.
Have a strong commitment to ongoing professional development and staying abreast of industry trends and best practices.
Have conducted thorough investigations into the financial affairs of insolvent businesses, have identified assets, liabilities, and potential avenues, for recovery, leading to issuance of statements of affairs of those companies.
Have prepared detailed reports and documentation for submission to the appointer or and relevant regulatory bodies and stakeholders.
Have collaborated with service providers, to wit, professional service providers. e.g. Legal and Accounting firms, security firms, and other stakeholders for purposes of facilitating receivership or liquidation proceedings. At times have put guarantors to task, especially when the sale proceeds from company properties were lesser than the loans.
This was a joint Receivership. I was appointed by the Tanzania Investment Bank (TIB) as a Receiver and Manager of ABL.
The main and only task was to recover Tanzanian Shillings Thirty-five Billion and Five Hundred Million (Principal amount plus Interest) from ABL due to unpaid loans.
The unpaid sum of Tanzanian Shillings Thirty-five Billion and Five Hundred Million was fully and successfully recovered through a private auction.
I was appointed by Tanzania Investment bank (TIB) as a Receiver and Manager of Konectt Cables & Wires Limited (Under Receivership).
The main and only task was to recover Tanzanian Shillings Six Billion and Eight Hundred Millions (Principal amount plus Interest) from the said Konectt Wires & Cables Ltd.
The only property which the company has was wire machinery which was sold, and a sum of Tanzania Shillings One Billion and Two Hundred and Fifty million (TZS 1,250,000,000) was recovered. Note: I am now in the process of closing the receivership through distribution of the sale proceeds to the deserving parties and deregistration of the company at BRELA. This process will be completed by the end of May, 2024. In the meanwhile, I have put onto notice the Guarantee of the Loan.
I was appointed by the High Court of Tanzania to be the liquidator of Kluene Drilling Company Limited to liquidate the company.
I am in the final stages of Liquidating this company. I am finalizing two tax issues. Therefore, I will be issued with a Tax Clearance Certificate (TCC)by the Tanzania Revenue Authority. With that, i expect to finalize this liquidation by the end of June 2024.
Currently, two other liquidations are being handled by other lawyers at Breakthrough Attorneys. In this liquidation, I have worked as an internal advisor to individual liquidators within Breakthrough Attorneys, where I serve as its Lead Partner. These Liquidations include Jimbo Management Ltd, Eco Net Media Tanzania Ltd, and Electrical Instrumentation Engineering Ltd.
The hearing procedure at TRAB has been as follows:
Some of the cases I have attended include: