South Africa—overview of the law of insolvency

The following Restructuring & Insolvency practice note provides comprehensive and up to date legal information covering:

  • South Africa—overview of the law of insolvency
  • Coronavirus (COVID-19)
  • What the law of insolvency comprises of

South Africa—overview of the law of insolvency

Coronavirus (COVID-19)

This content is affected by the coronavirus (COVID-19) pandemic. For further details, take a look at our Coronavirus (COVID-19) toolkit and Practice Note: Coronavirus (COVID-19) Tracker of insolvency reforms globally [Archived]. For related news, guidance and other resources to assist practitioners working on restructuring and insolvency matters, see: Coronavirus (COVID-19)—Restructuring & Insolvency—overview.

What the law of insolvency comprises of

The Principal Act which governs the law of insolvency in South Africa is the Insolvency Act 24 of 1936 (the Insolvency Act). The Insolvency Act, together with the Companies Act 61 of 1973 and 71 of 2008, the Close Corporations Act 69 of 1984, the Cross-border Insolvency Act 42 of 2000 and common law provide the complete law of insolvency and restructuring in South Africa.

The law of insolvency is continually changing to adjust to the developing and ever fluctuating economy.

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