Zambian Corporate Finance Options and the Securities (Commercial Paper) Guidelines 2020

Ever since over 150 years ago when New York merchants began to sell their short-term obligations to free up capital to cover short term obligations, Commercial Paper has never lost its relevance in the competing corporate finance options.  Commercial Paper, which is really short-term unsecured promissory notes issued by companies, remains relevant even in Zambia […]

CHIEF EXECUTIVE OFFICER, EXECUTIVE DIRECTOR AND MANAGING DIRECTOR: LEGALLY

While it is common for the words chief executive officer, executive director and managing director to be used as synonyms, at law, they are completely different offices with different legal ramifications. In this article, we set out to briefly discuss the positions and their ramifications according to the Companies Act, 2017. At law, the business […]

BUSINESS RESCUE vs. SCHEMES OF ARRANGMENTS AND COMPROMISES: DRAWING THE LINES

When a company faces financial distress, as is common during these Covid-19 times, a few options are available to the company itself and its stakeholders like creditors and members to turn the situation around. Here we highlight business rescue proceedings on the one hand and schemes of arrangements and compromises on the other hand provided […]

EXPROPRIATION AND ITS NUMEROUS SHADES OF GRAY

With the passage of the Electricity (Common Carrier) (Declaration) Regulations, 2020, Statutory Instrument No. 57 of 2020 by the Minister of Energy, declaring the transmission and distribution lines operated by the Copperbelt Energy Corporation (CEC) commons carriers, many questions from investors and bystanders alike have been asked whether this is some of expropriation by the […]