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In the midst of the COVID-19 pandemic, the Companies (Amendment) Bill 2020 is tipped to be tabled before Parliament in its November 2020 sitting.  The Bill is aimed at making more accessible the corporate rescue mechanisms introduced by the Companies Act, 2016 (CA 2016) namely, corporate voluntary arrangements and judicial management, as well as enhancing the perennial scheme of arrangement.

We are pleased to set out below an overview of what is in store in respect of Schemes of Arrangement, Corporate Voluntary Arrangement and Judicial Management, under the proposed amendments to the Companies Act, 2016.

This article is intended for general information of the clients of our Firm. It should not be regarded as legal professional advice. If you need advice based on specific facts, please feel free to contact us.