The regulation of insolvency practitioners in South African insolvency law

Abstract: The law of insolvency has become a dynamic part of the law and it ought to be subject to continual changes to adjust to arising challenges and new circumstances.1 The aim of the insolvency system has always been to ensure creditors receive an equitable share of the insolvent estate and thus regarded as a mere system of execution. The latter notion has rather been regarded as simplistic. 2 Effective and efficient insolvency systems are essential components to the country’s financial systems and serve as a backbone for the success or failure of the system.3 When the World Health Organisation (WHO) declared Covid-19 to be a global pandemic on the 11th of March 2020, the aftermath has become an unprecedented event in modern world history.4 The world economy is in disarray and the South African economy has not been spared the devastating after-effects of the global pandemic. This has consequently led to several countries embarking on a trajectory of re-evaluating their insolvency law legislation and policies to countenance the effects of the global pandemic on the economy.5 Amidst the unanticipated challenges, the importance of having in place effective regulations in the insolvency system could have never been more accentuated...LL.M. (Commercial Law