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Bulletin | Covid-19

Corporate Restructuring & Insolvency Bulletin

Fasken
Reading Time 1 minute read
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On 21 April 2020, just over a week before the anticipated end of the South African national lockdown, President Cyril Ramaphosa announced further economic and social relief measures in response to the COVID-19 epidemic. This comes at a time when South Africa teeters towards a food and humanitarian crisis of “biblical proportions”.

 

Top of mind questions for businesses:
What is the timeframe for qualifying businesses to access the funds under the economic measures? 
Will businesses, irrespective of whether they are able to access these measures or not, survive the COVID-19 financial impact? 
Can business rescue or liquidation be of benefit in this precarious financial environment? 

 

In this series of bulletins, the Corporate Restructuring & Insolvency team will address some key issues that captains and decision makers must consider in deciding which bankruptcy regime to adopt.

Click here to view a snapshot of the process and timeline in liquidation and business rescue proceedings.

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