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Cliffe Dekker Hofmeyr

Almost 10 years in, and still no hope of being rescued: BRP slapped with personal punitive costs order

The recent case of Commissioner for the South African Revenue Services v Louis Pasteur Investments (Pty) and Others may be the first of its kind to admonish the actions of a business rescue practitioner (BRP) by granting ..

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ENSafrica

The High Court of Uganda emphasises the rights of secured creditors in insolvency proceedings

The High Court recently passed a decision (Bank Of India (U) Limited Vs NC Beverages Limited And Uganda Revenue Authority (Civil Suit 0009 of 2021) highlighting the priority of a secured creditor in the winding up or liquidation of a company. ..

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Dentons Hamilton Harrison & Mathews

High Court affirms position of secured creditors in insolvency proceedings

The High Court, in its ruling in High Court Insolvency Petition E018 of 2020 in the matter of Tusker Mattresses Limited, held that a secured creditor is entitled to exercise its statutory power of sale without recourse to the court exercis..

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Webber Wentzel

Winding up an external company in South Africa

Is it possible for creditors to apply for the winding up of a South African branch of a foreign company (“an external company”), even if the foreign holding company remains solvent, since the two entities are legally one and the same entity?

Although the registrati..

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Scanlen & Holderness

The correct approach to corporate rescue explained in Zimbabwe

A brief commentary on the Metallon Gold Zimbabwe (Pvt) Ltd & Ors v Shatirwa Investments (Pvt) Ltd & Anor SC 107/21.

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ENSafrica

Insolvency law takes a knock: A review of Roofings v Roko Construction

The High Court in Uganda has ruled that a petitioner for liquidation of a company must issue a statutory demand regardless of the grounds of the petition.

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Udo Udoma & Belo-Osagie

Innovations in corporate insolvency in Nigeria under the Companies and Allied Matters Act, 2020

On 7th August 2020, the President of the Federal Republic of Nigeria, Muhammadu Buhari GCFR, assented to the Companies and Allied Matters Act, 2020 (“CAMA 2020”) which repealed and replaced the ..

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IKM Advocates

Why new changes to the insolvency laws matter

The Business Laws (Amendment) (No.2) Act, 2021 received Presidential assent on 30 March 2021 and brought amendments to several statutes into effect, many of which are geared towards improving the ease of doing business in Kenya.  One of the affected statutes is ..

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Scanlen & Holderness

The fundamentals of corporate rescue proceedings in Zimbabwe

Corporate rescue means proceedings to facilitate the rehabilitation of a company that is financially distressed. The concept of corporate rescue was introduced into our Zimbabwean law by the enactment of the Insolvency Act [chapter 6:07] (hereinafter referred to as the Ac..

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