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 meaning of the term ‘pay back’ in a settlement agreement
Genrec Engineering (Pty) Ltd v Metal and Engineering Industries Bargaining Council and Others [2016] ZALCJHB 213 (17 June 2016) ISSUE [...]
The impact of Mitchell judgement on purchases of immovable property from an insolvent estate
In a recent judgement, of City Tshwane Metropolitan Municipality v PJ Mitchell (38/2015) (2015) ZASCA, the Supreme Court of Appeal ruled that [...]
Tread carefully when merging: tribunal imposes massive fine for failure to notify
In the intricate process of acquiring another business or forming a joint venture, firms often forget to check whether the [...]
The duty to disclose business rescue proceedings
On 14 April 2016, the Supreme Court of Appeal (“SCA”) in the matter of Umso Construction Proprietary Limited (“Umso”) v MEC [...]
Spotlight on boards and shareholder activism
INTRODUCTION Corporate activism places public pressure on boards to improve both financial and non-financial performance of companies. Non-financial performance [...]
New treatment of fractional entitlements in terms of the JSE listings requirements
A recent change to the Johannesburg Stock Exchange (JSE) Listings Requirements, which deals with the manner in which entitlements to [...]
