Academic Appointed to Technical Working Group on Resolving Insolvency
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Professor Rajendra Rajaram, Academic Leader in the School of Accounting, Economics and Finance has been appointed a member of the Technical Working Group on Resolving Insolvency under the Ease of Doing Business Programme.
The programme is championed and co-chaired by the Department of Trade, Industry and Competition and National Treasury with oversight by the Presidency. The World Bank is also involved in the programme.
The objectives of the Working Group are (1) raising awareness of the reorganisation (business rescue) proceedings among stakeholders in order for them to be considered as a viable option; (2) adopting a set of non-binding principles outside the ambit of the courts to be utilised by debtors and creditors; (3) considering streamlining as well as adding cohesion to the current framework; (4) the reorganisation of business rescue proceedings in light of the best practices regarding creditors’ rights, and (5) enhancing efficiency and streamlining procedural requirements.
‘The Unit aims to enhance our economy by improving the chances of successful business rescue. We intend to achieve this by, amongst other things, ongoing research and delivery of short courses on business rescue,’ said Rajaram.
Congratulating Rajaram on this achievement, Dean and Head of the School of Accounting, Economics and Finance, Professor Mabutho Sibanda said, ‘We are excited as a School about Professor Rajaram’s appointment as a member of the Technical Working Group on Resolving Insolvency. We wish him well in empowering the nation in that space.’
Words: Lungile Ngubelanga