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2 articles found for Restructuring & Insolvency in South Africa
Legal Framework: South Africa governs cross-border insolvency through the Cross-Border Insolvency Act 42 of 2000, which incorporates the UNCITRAL Model Law. Mandatory Recognition: Foreign liquidators or "representatives" have no standing...
Business rescue is a formal rehabilitation process designed to save "financially distressed" companies from liquidation. A general moratorium is triggered immediately, providing legal protection against creditor claims and asset seizures....