African Bank restructure sets workout precedent

• Autores: Tom Young
• Localización: International financial law review, ISSN-e 0262-6969, Vol. 35, Nº. 13 (4/4/2016), 2016
• Idioma: inglés
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• Resumen

  • The article discusses issues associated with the restructuring of African Bank. Topics explored include the amendment to the South African Banks Act required by the restructuring process, the recapitalisation of the financial institution by several South African banks which may be attributed to its weak financial performance, and the appointment of curator Thomas Winterboer of professional services firm PricewaterhouseCoopers to handle responsibilities of the bank to creditors.