Category: June 2012

News – June 2012

Welcome to the June 2012 edition of Focus.   Articles ‘ African LMA and new Zambian foreign currency restrictions In our main article this month, Kaushik Ray takes a look at the use and impact of the Loan Market Association’s ‘African LMA’ finance documents, six months after their launch.  In a Focus Legal Update, we take a look… Read more »

The African LMA

The African LMA In this article, we take a look at the South African “African LMA” documentation and give a very basic overview how it differs from the London primary market documents.  With huge South African deals in the renewables space set to close imminently, we thought now would be a good time to take… Read more »

Legal Update – Brouhaha in Lusaka – Confusion in foreign currency lending in Zambia

On 18 May 2012 Statutory Instrument No 33 of 2012 was published setting out the Bank of Zambia (Currency) Regulations (the “Regulations”). The Regulations stipulate that ‘[a] person shall not quote, pay or demand to be paid or receive foreign currency as legal tender for goods, services or any other domestic transaction.’ A domestic transaction is… Read more »