Insolvency and Restructuring

This category covers the practical aspects of the law relating to insolvency and restructuring, including the various options for distressed businesses, and the procedure, timeframe and advantages and disadvantages of each one. It also considers aspects such as debt recovery and safeguard measures for creditors, which transactions are voidable, and potential liability for shareholders, executives, directors, officers and others.

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Topics covered

The following topics are covered in detail under the Insolvency and Restructuring category for each country (click to expand):
Legal framework
Trends and practice
Insolvency and Restructuring

Practical Q&A format

This category contains detailed and up-to-date local guidance, in an easy-to-use question-and-answer format, in relation to the restructuring and winding up of financially distressed and insolvent businesses in a particular African country, including your rights as a creditor of such businesses. If you have a question that is not answered, we’ll source the response for you. Sample questions include:
Do any special regimes apply to corporate insolvencies and restructurings in specific industries or sectors?
Are there any formal rescue/restructuring procedures available?
How are directors and shareholders involved in restructuring procedures?
Are there any mechanisms for trade creditors to secure unpaid debts? If so, do any limitations apply?
When can transactions entered into prior to insolvency be challenged and/or voided?
What are the criteria for a creditor to initiate compulsory liquidation procedures?
What are the criteria to initiate voluntary liquidation procedures?
Can directors, officers or other individuals transacting on behalf of the company be held liable for trading while the company is in financial difficulty?
Where do creditors and contributories rank on a debtor’s insolvency?

Benefits of the Insolvency and Restructuring category of Afriwise

If you trade with companies in an African country or you want to restructure or wind up your own operations in an African country, the Afriwise platform, and this category in particular, is a must. Afriwise is more powerful than any other solution as it provides accurate, up-to-date and plain- language guidance in relation to all your questions, is interactive, and also notifies you when there are legal updates you should be aware of.
Afriwise subscribers benefit from:
  • 24/7 access to our online platform
  • detailed practical guidance and insights on all aspects of this area of law
  • overviews of the applicable laws and upcoming changes, as well as alerts to important legal developments
  • downloadable copies of all relevant laws and regulations
  • direct access to vetted local insolvency and restructuring law experts
  • valuable tools such as powerful search engine with relevant filters
  • country comparisons
  • a clarification-request tool
  • note-taking
  • ... and much more.
Gain full visibility across the local insolvency and restructuring law landscape.

Afriwise connects organisations to outstanding quality and up-to-date legal, risk and business information and local expertise for African countries. We give you deep understanding about African markets, online, and help you proactively comply with local regulations.

Our award-winning solution offers an innovative way to source key information about insolvency and restructuring procedures and practices in a particular African country.

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