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    Competition Commission aims to provide clarity on internal restructurings
    2025-01-29

    ​​​​​​​The legal position on whether internal restructurings within South African businesses require prior approval from the competition authorities has been uncertain for some time. In a welcome development, on 24 January 2025, the Competition Commission took steps to clarify this issue by publishing draft guidelines on internal restructurings.

    Filed under:
    South Africa, Competition & Antitrust, Insolvency & Restructuring, Litigation, Webber Wentzel
    Authors:
    Burton Phillips
    Location:
    South Africa
    Firm:
    Webber Wentzel
    The spirit of business rescue: What creditors need to know
    2024-07-11

    ​​A business rescue plan (a plan) should ideally benefit all affected persons in the best way possible, and a vote in support of its adoption or rejection should not be premised purely on self-interest while disregarding the collective benefit of all affected persons.

    A recent High Court judgment highlighted this fact, setting aside the major creditors' votes on the grounds of inappropriateness, and investigating the creditors' conduct during the business rescue process.

    Filed under:
    South Africa, Company & Commercial, Insolvency & Restructuring, Litigation, Webber Wentzel
    Authors:
    Christopher Holfeld , Xolani Mabuza
    Location:
    South Africa
    Firm:
    Webber Wentzel
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