Recession and the legal impact it poses on businesses ! South Africa has moved from the unprecedented experience of Covid-19 which devastatingly impacted the economy and various industries, to having a load-shedding crisis and constantly increasing petrol prices. Economists, investors, businesses and consumers alike have been questioning whether we are heading for a recession. A […]
Can a winding-up application be brought under both the old and the new Companies Act? When one is not certain whether a company is solvent or insolvent, a difficulty will arise as to whether the application to wind-up the company is to be brought under the Companies Act 71 of 2008 (the new Act) or […]
LABOUR DISPUTES VS COMPANY IN LIQUIDATION Whether employees who have lodged a claim in the Labour Court against an employer that has gone into liquidation may proceed with their claim if they have not provided the liquidator with the requisite notice as required by South Africa’s company laws? SUMMARY It is a peremptory requirement […]
Can a car sold under finance, or a suspensive condition be attached and sold in execution by a Sheriff? One of the primary duties of a Sheriff is to attach and sell in execution, property of a judgment debtor in accordance with a court order granted against the latter. Even so, the Sheriff can only […]
Claims against a Business Rescue Practitioner 4 Nov 2021 Francois Uys Inc. Attorneys. 012 654 9247 / 082 852 3967 On 12 September 2014, the respondent was appointed the business rescue practitioner to rescue a group of companies. He was unable to do so. The group of companies were finally liquidated on 25 November 2014, […]
COVID-19 has had disastrous consequences on businesses globally, with many being left in significant financial distress. Chapter 6 of the Companies Act No 71 of 2008 introduced a remedy for businesses when in financial distress before placing a company into liquidation. This remedy is known as business rescue proceedings. What is business rescue? By implementing […]
Unlocking the door to reserve prices in sales of execution (As published in De Rebus May 2021) On 22 December 2017, r 46A of the Uniform Rules of Court (Uniform Rules) was amended to provide, inter alia, for a discretion for courts to set a reserve price for a sale in execution. More than two years […]
