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Legislating business rescue in South Africa: a critical evaluation
(University of Fort Hare, 2014) Darko-Mamphey, Dorothy; Osode, P C
Social, political and economic changes in post-apartheid South Africa have generated the need for a major reform of the legislative regime governing companies in order to ensure that that regime is capable of addressing the challenges faced in domestic and international circles, and to also meet the demands of globalisation. 1 These developments include the change in culture from company liquidations to commercial renewal which caused the Department of Trade and Industry (DTI) to embark on drastic reforms of South Africa's business rescue mechanism as part of the broader company law reform project. 2 The domestic and global environments have indeed changed drastically with corporate structures showing significant evolution.