The following Banking & Finance guidance note Produced in partnership with Ulrike Naumann of Bowmans provides comprehensive and up to date legal information covering:
The lending market in South Africa has seen renewed activity with a number of buyouts and other corporate action being funded by bank lending.
As a result of the slow-down of economic growth in South Africa and other key jurisdictions, there has been an increase in debt restructuring transactions, partially funded by new money and partially requiring creditors to renegotiate the terms of their debt.
The legislature is currently working on amendments to the Insolvency Act 1936 which will affect the insolvency laws applicable to companies, and which will in turn have an effect on loan financing to such companies.
The prior approval of the South African Reserve Bank (SARB) is required:
for a loan made
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