Adams & Adams
When banks advance funds to clients prior to the lodgement of a mortgage bond at the Deeds Office, they must take cognisance of the effect of Section 88 of the Insolvency Act.
Adams & Adams
When buying a business, the purchaser may approach a bank for finance. The purchaser as well as the financial institution that may finance the transaction need to determine whether compliance with Section 34...
The state of the SOEs is particularly complex, sensitive and special.
Cliffe Dekker Hofmeyr
Kylene Weyers, Senior Associate in the Dispute Resolution practice joined Smile FM to discuss the voluntary liquidation of Bosasa and the SCA judgment which ...
Abrahams & Gross Inc.
An insolvent is automatically rehabilitated 10 years from date of sequestration of their estate.
On 1 February 2019, the South African Minister of Finance published the Financial Matters Amendment Bill (the "Bill") containing a long-awaited amendment to section 83 of the Insolvency Act, 1936.
It has become a common phenomenon that applications are brought to put into business rescue, companies which are already in liquidation – sometimes long after the liquidation commenced.
As we have written in a number of previous articles, National Treasury, together with the Prudential Authority and the Financial Sector Conduct Authority ...
It has been long-established by the classic fundamental principles of corporate law that companies are separate and distinct persons from their shareholders, directors and officers.
In The Car Company Ltd (in Liquidation) v. The Mauritius Revenue Authority, the Commercial Division of the Supreme Court ruled that the amount of taxes due under the Value Added Tax Act and the Income Tax Act ..
The debt reduction provisions contained in section 19 of the Income Tax Act, 1962 and paragraph 12A of the Eighth Schedule to the Act have been amended with effect from 1 January 2018 and are applicable to years ...
The case of Uganda Telecom Limited v Ondama Sammuel t/a Alaka & Co (Miscellaneous Application No. 12 of 2018) presented the Ugandan courts with an opportunity to test the provisions of the Insolvency Act, 2011 ...
The without prejudice rule has long been part of South African law. This rule provides that statements, including admissions of liability, made in an attempt to settle litigation between parties.
Pieter van der Zwan & Associates
The tax treatment of unrealised exchange gains or losses poses certain challenging questions when a foreign denominated debt becomes irrecoverable.
Clyde & Co
The collapse of Hanjin, the world's seventh largest shipping container carrier, and its immediate impact in South Africa and its shipping industry, remains to be seen.
Acceleration clauses are commonly found in loan agreements that require debtors to make repayment in instalments.
Shepstone & Wylie
The OW Bunker Group 2013 "Terms and Conditions of sale for Marine Bunkers" provide for English law and London arbitration.
This circular will examine the principles relating to the winding up of a solvent company on the basis of what is referred to as the just and equitable principle.
It has a long been a principle of company law that the debts of a company are not the debts of its shareholders.
On 28 March 2014, the Supreme Court of Appeal handed down judgment in Gavin Cecil Gainsford N.O. & others v Tanzer Transport Ltd & others.