On 21 April 2020, just over a week before the anticipated end of the South African national lockdown, President Cyril Ramaphosa announced further economic and social relief measures in response to the COVID-19 epidemic. This comes at a time when South Africa teeters towards a food and humanitarian crisis of “biblical proportions”.
| Top of mind questions for businesses: | |
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What is the timeframe for qualifying businesses to access the funds under the economic measures? |
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Will businesses, irrespective of whether they are able to access these measures or not, survive the COVID-19 financial impact? |
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Can business rescue or liquidation be of benefit in this precarious financial environment? |
In this series of bulletins, the Corporate Restructuring & Insolvency team will address some key issues that captains and decision makers must consider in deciding which bankruptcy regime to adopt.
