Legal updates and opinions
News / News
LEX Africa | Insolvency and Business Restructuring Guide for Africa
by Eric Levenstein, Director and Head of Insolvency & Business Rescue
The sixth edition of the LEX Africa Insolvency and Business Restructuring Guide for Africa brings together an overview of insolvency and restructuring frameworks across 32 African jurisdictions. The guide is intended to provide businesses, investors, financial institutions and advisers with a better understanding of the approaches to insolvency, restructuring and distressed situations in different African markets.
Eric Levenstein contributed the South African chapter, which covers the key features of South Africa’s insolvency and restructuring framework, including the tests for insolvency and financial distress, liquidation, business rescue and compromises with creditors. It also addresses the treatment of creditors, employees and contracts, post-commencement finance, security and enforcement, and the recognition of foreign judgments and foreign insolvency practitioners.
Download the guide here.
Latest News
The use of alcohol in the workplace
An employer who is faced with an employee who is under the influence of alcohol in the workplace may, in [...]
Application of the participation exemption to the disposal of shares by a controlled foreign company
INTRODUCTION The participation exemption provides a useful and simple tax planning tool which should always be considered when dealing [...]
Shapes can speak a thousand words
The London Taxi Company has had its UK trade mark registration of the shape of its black cab declared invalid [...]
Ratepayers association tackles the Shebeen regulations
INTRODUCTION On 1 November 2017 the Gauteng High Court, Johannesburg found in favour of the Yeoville Bellevue Ratepayers' Association [...]
Financial Provisioning Regulations, 2017
On 20 November 2015, the National Environmental Management Act No. 107 of 1998 ("NEMA") "Financial Provisioning Regulations, 2015" GNR1147 GG 39425 ("2015 [...]
Informal restructuring or business rescue
Business rescue proceedings are formal legislated proceedings, under Chapter 6 of the South African Companies Act 71 of 2008 ("The [...]
