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CAN MY INSOLVENCY LEAD TO TERMINATION OF MY LEASE ?

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CAN MY INSOLVENCY LEAD TO TERMINATION OF MY LEASE ? “I own a few commercial properties that I rent out to businesses. Recently it has come to my attention that one of my longstanding tenants is going under financially. He has nearly two years left on his term. Can I terminate his rental agreement if […]

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What does it mean to be bankrupt?

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BACK TO TOP US President Donald Trump famously declared himself bankrupt four times – a fact that Hillary Clinton loved to rub his nose in during the 2016 US presidential elections. In South Africa, filing for bankruptcy is possible, but it’s not easy and can be very costly. If someone files for bankruptcy or sequestration, […]

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Understanding the concept of a delinquent director

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BACK TO TOP The former South African Airways chairperson, Duduzile Myeni (Myeni), was declared a delinquent director by the provincial division of the Gauteng High Court. Namely, because she failed to perform her duties as a director of a company as prescribed by the common law and the Companies Act, 71 of 2008 (the Act). This shows that a director […]

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Will Debt Relief help me and what are my options?

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BACK TO TOP Are you struggling with overwhelming debt? Do you feel like you have no options left? Are you stuck and don’t know which way to turn? With South Africa’s current household debt to income ratio at 72%, according to Statistics South Africa (Stats SA), you’re certainly not alone. South Africa’s middle class is facing a […]

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We are in the News – Die Groot Ontbyt

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BACK TO TOP We are in the News! Die GROOT Ontbyt, is a popular morning talk show on GROOTfm 90.5 broadcast every weekday between 06:00 en 08:00. We had the great privilege to be their guest today. We hope you enjoy the interview. Francois Uys Prokureurs JOU Insolvensiereg spesialiste in Pretoria. Sukkel jy of jou […]

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Voluntary Liquidation in South Africa

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BACK TO TOP In a speech in Cape Town in June 1966, Robert Kennedy said: There is a Chinese curse which says; ‘May he live in interesting times.’ Like it or not we live in interesting times. They are times of danger and uncertainty. As those who lived through the 1960s (and can remember) will […]

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Essentials of business rescue:

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BACK TO TOP ESSENTIALS OF BUSINESS RESCUE: Going under business rescue is proving to be an increasingly attractive option for South African companies that are in financial distress since the advent of Chapter 6 of the Companies Act, 71 of 2008 (“the Act”). www.uysincorp.co.za INTRODUCTION Is the preference to proceed into a business rescue process […]

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The process of non-voluntary liquidation

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BACK TO TOP The process of Involuntary Liquidation Section 81 of the Act outlines the procedure that should be followed when a company is wound up based on an application by a creditor of the company. This section provides for a variety of instances when an application can be used to wind up a company. […]