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Judicial Management in Zimbabwe

Judicial management was the law in existence in Zimbabwe prior to the enactment of the Insolvency Act [Chapter 6:07] in June 2018. The move from judicial management in Zimbabwe to corporate rescue was a paradigm shift as judicial management was found to be unsatisfactory as a vehicle for business rescue for a number of reasons. For instance, the judicial management scheme in Zimbabwe was regarded as too formal, over regulated, cumbersome, costly and slow. The extraordinary remedy was only available under special and limited circumstances and available to companies and available to other forms of business entities in Zimbabwe such as partnerships, trusts and private business corporations. see Metallon Gold Zimbabwe (Pvt) Ltd v Shatirwa Investments (Pvt) Ltd & Others 2021 (2) ZLR 193 (S).