South Africa on Financial Restructuring

The legal position on whether internal restructurings within South African businesses require prior approval from the competition authorities has been uncertain for some time.

The Supreme Court of Appeal's (SCA) recent decision in Mashwayi Projects (Pty) Ltd and Others v Wescoal Mining (Pty) Ltd and Others (2025 ZASCA 5) has fundamentally reshaped the landscape of business.

Business Rescue and the applicable legislation, in comparison with other jurisdictions and practice areas, is a relatively new concept in South Africa.