CDH appoints Timothy Baker to our Dispute Resolution team in Cape Town

Carbon tax changes related to the renewable energy premium deduction and carbon offset allowance

Enhancing supervision in the banking sector: A review of the Draft Banking (Penalties) Regulations, 2024

The Central Bank of Kenya (CBK) plays a fundamental role in maintaining stability within Kenya’s banking sector. According to the Banking Act (Act), the CBK is empowered to make regulations for carrying out the purposes and provisions of the Act. The CBK may make regulations or prescribe penalties to be paid by banks, financial institutions, mortgage finance companies, credit reference bureaus and any other persons that fail or refuse to comply with its directions under the Act or Prudential Guidelines. In exercising this power, the CBK recently published the Draft Banking (Penalties) Regulations, 2024 (Proposed Regulations) whose defining features are a marked departure from the Banking (Penalties) Regulations, 1999 (Existing Regulations) which they will be seeking to repeal. In this article, we highlight some noteworthy features that the Proposed Regulations will introduce. 

The National Health Insurance and Employee Benefits

Aadil Patel, Head of Employment Law practice and the Government & State-Owned Entities sector teamed up with Fiona Leppan, a Director in the Employment Law practice, for a recent feature in Business Day's Public Sector supplement. Together, they explored the topic, " The National Health Insurance and Employee Benefits ."

The need for businesses rescue to combat extreme rise in liquidations

Vincent Manko, a Director in the Dispute Resolution practice, joined POWER FM to address who qualifies for business rescue and the need for business rescue to combat the extreme rise in liquidations.

Lender’s victory: Essential strategies for effective security enforcement

On 11 November 2024, the High Court in East African Cables PLC v Equity Bank (Kenya) Limited KEHC 14009 (KLR) delivered a ruling that reaffirmed the strong position of secured creditors in enforcing security. When East African Cables PLC (the borrower) defaulted on a KES 1.7 billion loan that was granted to it by Equity Bank (the bank), the court upheld the bank’s right to exercise its statutory power of sale over the charged properties despite the borrower’s attempts to block the process. This ruling reinforces key legal principles regarding the enforceability of different types of security and offers valuable lessons for lenders on how to navigate borrower disputes and ensure smooth enforcement of their rights.

A few changes relating to controlled foreign companies

A controlled foreign company (CFC) is essentially a foreign company where 50% or more of its shares or voting rights are collectively held by South African residents.