Rethinking Malawi’s Legal Framework for Corporate Debt Restructuring and Post Covid-19 Renaissance
Introduction Covid 19 [the pandemic] caused rugged and rugged turbulence in business. It distressed business businesses in Malawi and the world. For many of them, the threat of insolvency is real. It is tough. There ought to be an urgent, sure solution. This paper urges rethinking and/or utilizing the law on Corporate Debt Restructuring [CDR]. Proposals in this paper largely draw inspiration from research authors did for or with World Bank Group [WBG] and Insol International [Insol]. Possible areas of reform include but are not limited to informal CDR mechanisms such as compromises and arrangements; formal reorganization and/or restructuring; and […]
Project Finance Laws and Regulations Malawi 2022
The Insolvency Act in Malawi does not apply to financial institutions unless so provided under the Financial Services Act, such as banks, securities dealers or brokers or custodians, explains Read related content
CREDITOR’S LIABILITY FOR IRREGULAR EXECUTION: SECTION 44 AS KNIGHT IN SHINING ARMOUR FOR INNOCENT THIRD PARTIES
When a party obtains a favorable money judgement [the judgement debt], they become a creditor to the party the said judgement disfavored [the debtor]. A judgement creditor may elect to enforce the judgement through, inter lia, a sale and seizure order [the warrant] to be executed by the Sheriff of Malawi [the Sheriffs]. By its very character, the warrant commands the Sheriffs to seize whatever goods of the debtor to satisfy the judgement debt. It often occurs that instead of seizing the goods and chattels of the debtor, the Sheriffs irregularly seizes the goods of an innocent third party. In […]
Ritz Attorneys International woman’s day Luncheon
As a way of commemorating international women’s month, we hosted a luncheon at Amaryllis Hotel in Blantyre dubbed Women of Substance where we awarded outstanding female students under the STEM programs in the public universities.
Rethinking Malawi’s Legal Framework for Corporate Debt Restructuring and Post Covid-19 Renaissance
By Lusungu Gondwe and John Chisomo Kalampa Introduction A rough and rugged economic terrain has been brought by the Covid-19 pandemic (hereafter referred to as Covid or the Pandemic). Businesses in Malawi and the world over are in distress. They continue to suffer persistent attacks of being pushed into insolvency, by Covid. It’s tough. One way of combating these attacks, argues this paper, is rethinking and/or utilizing our legal framework on Corporate Debt Restructuring [CDR]. Through information gathered from World Bank Group and Insol International’s research on the workings of CDR around the world, this paper will look at the […]