Business rescue for Zambia: suggestions for legislative reform

In: http://hdl.handle.net/11427/12359

Abstract

Includes bibliographical references. ; A Company is an integral part of the community in which it does business as it impacts on that community and the economy of the country as a whole. Consequently, the failure of that company not only affects that community but also the shareholders, suppliers, employees and customers. The company law of a country therefore needs to provide a means to preserve commercial enterprises that are capable of making a useful contribution to the economic life of a country. In recent years, several developed and developing countries have enacted business rescue legislation to supplement existing insolvency rescue procedures such as receivership and the scheme of arrangements. This dissertation discusses the need for Zambia to enact adequate business rescue legislation considering the current inadequacies in the existing Companies Act.