Payments made during business rescue – are you at risk?
A recent legal decision highlights a critical legal risk for creditors and business rescue practitioners (BRPs) when dealing with a company in financial distress.
Sibling feud sparks director’s personal liability
What are the repercussions of a director failing to uphold their fiduciary duties? This article highlights the importance of directors adhering to their critical role in order to avoid personal liability and potential liquidation orders.
No contract, no problem: Ownership wins!
A recent court case shows just how powerful the principle of ownership can be in South African law. Even without a contract, you can reclaim what is yours ...
Grappling with prescription of debts based on concealed fraud
When does the clock start ticking on a claim when the underlying wrongdoing is hidden, but the law says you should have noticed?
Justice delayed no more: Civil trials to undergo mandatory mediation in Gauteng
A new directive making mediation mandatory for all civil trials in the Gauteng Division has been implemented with immediate effect.
The Companies Act: Understanding the validity of the provision of financial assistance
The provision of financial assistance by a company to its directors, officers, or related entities is strictly regulated under section 45 of the Companies Act, 2008.
Contractual provisions for unilateral cancellation of agreements
To lawfully cancel an agreement based on a contractual discretion tied to clear criteria, there must be valid and reasonable grounds. It is therefore important to seek legal advice before cancelling agreements ...
Banks, borrowers and the law: sign or litigate
Banks hold significant power in financial transactions but with this comes accountability. To demand more responsibility from credit providers, the biggest of which are banks, the National Credit Act was enacted in 2005 to help regulate South Africa's credit industry ...
Dead on Revival: how not to bring back a lapsed agreement
Often, after an agreement has lapsed due to non-fulfilment of suspensive conditions, the parties choose to proceed with the transaction. Special care needs to be taken in these instances...
Binary, not a spectrum: the test for directors’ delinquency
A company's stakeholders may apply to court for a delinquency order against an individual who serves or served as a director within the 24 months preceding the application.