Voluntary Corporate Rescue as a lifeline for distressed businesses – Zimbabwe

It is common economic parlance, that there are worldwide supply chain problems. The war in Europe and other global issues have resulted in higher inflation and an increasingly uncertain economic outlook, which has negatively affected companies globally, and specifically in Zimbabwe.  In addition, research from Morgan & Co, published in their Economic Outlook Report 2023,

Corporate Rescue Proceedings in Zimbabwe under the Insolvency Act Chapter 6:07

In this blog post, we unpack the corporate rescue proceedings in the relatively new Zimbabwean Insolvency Act No. 7 of 2018 (hereinafter “the Act”). The previous Insolvency Act [Chapter 6:04], now repealed by the new Act, did not legislate corporate rescue. Therefore, previously a company could be rehabilitated using the judicial management provision in the