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Entering into a compromise with creditors – ten things to consider

Photo of Akhona BolokoPhoto of Shawn Barnett (ZA)
By Akhona Boloko & Shawn Barnett (ZA) on May 27, 2020

Companies may attempt to rearrange their financial affairs to minimise the financial impact of the pandemic (or for any other reason). Section 155 of the Companies Act provides an informal mechanism of restructuring a company’s obligations to creditors.

Here are 10 things to consider when entering into a compromise with creditors:

  1. A compromise is an

…

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Norton Rose Fulbright’s financial institutions team provides straightforward legal updates. Our lawyers offer local insights with an international perspective recognised worldwide. This blog focuses on the South African market and is about sharing knowledge with you. Blog posts are not legal advice.

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