From payment holidays to allegations of reckless lending – legal expert Don Bosman provides valuable insight

There is no doubt that the Covid-19 crisis has absolutely changed life as we know it. However, in addition to the panic and unrest with which we now associate these times, the crisis has brought about something else – an overwhelming amount of questions regarding contractual agreements, financial obligations, credit repayment, the role and responsibility of financial institutions and ultimately, the legal position governing all of the aforesaid. As time passes and questions go unanswered, the uncertainty and anxiety gripping so many consumers has turned into anger and, in some instances, allegations of reckless lending by financial institutions. Biznews spoke to Don Bosman, a legal expert and Senior Director at Klagsbrun Edelstein Bosman Du Plessis to shed some light on the legal position governing relief measures such as payment holidays granted by financial institutions, and provide essential insight into the legal implications applicable in these trying and unprecedented times. – Nadya Swart

Is it possible for contracts to be placed in a suspensive state pending the reopening and understanding of a 'new' economy in South Africa? 

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