Ritz Attorneys at Law

Ritz attorneys at law was invited to contribute to the World Bank 2021 Women, Business and the Law report. This report is a series of annual studies measuring the laws and regulations that affect women’s economic opportunity. The report identifies barriers to women’s economic participation and encourages reform of discriminatory laws. The 2021 report uniquely analyses government responses to the Covid-19 crisis as they relate to childcare and women’s access to justice. Our team advised on the laws relating to maternity, paternity and parental leave for private sector employees as well as the impact of covid-19 on paid parental leave. Our Mr. Wanangwa Hara and Ms. Madalo Banda are credited contributors to this report.

Ritz advised and litigated for Liberty General Insurance Company Limited [LGIC] – a leading insurer in Malawi – on its right to recover under a Credit Guarantee [CG] it issued to Alliance Capital Limited [ACL] to securitize a loan of MK 500 million [the Loan] that ACL extended to Ellna General Dealers [EGD]. ACL required CG for the Loan. EGD requested LGIC for the CG. LGIC made the CG available to EGD on the basis of which ACL extended the Loan to EGD.

EGD fell in arrears on servicing the Loan. ACL moved to recover from LGIC on the CG. LGIC turned to EGD. Our Ms. Doreen Manjandimo assisted LGIC to recover from EGD so that they were able to honour their obligations to ACL under the CG

Ritz Attorneys’ Banking, Finance and Fintech team [the team] advised on USD 30 000 000-00 Tripartite Cross Currency Swap Facility Agreement [the Agreement] signed amongst Reserve Bank of Malawi [RBM], Ecobank Malawi Limited [Ecobank] and Ghana International Bank Plc [GHIB] intended to shore up Malawi’s forex reserves.