South Africa’s first transfer pricing case?
Section 31 of the Income Tax Act, No 58 of 1962 (Act) contains South Africa’s transfer pricing provisions which constitutes one of the most contentious areas...
Insolvency & Business Rescue Updates
News & insights regarding insolvency and business rescue
Chapter 6 of the Companies Act 71 of 2008 has thrown financially distressed companies a lifeline in the form of Business Rescue, which could ultimately save a company from liquidation. This topic covers articles and insights which examine business rescue and insolvency, relevant legislation, legal proceedings, the rights of creditors and the rights of employees.
Court clarifies impact of ‘business rescue’ regime on admiralty matters
Background
The promulgation of the Companies Act 2008 in South Africa saw the introduction of a company rehabilitation process termed ‘business rescue’. As in many other...
The impact of business rescue on employees
Business rescue has become a popular alternative to liquidation of a company. The Business Rescue procedure was introduced through section 6 of The Companies Act...
Book on ‘hot topic’ Business Rescue set to launch
In our current economic climate with various private and public companies, as well as State Owned Entities (SOEs) being placed under severe financial pressure, the need to understand the business rescue procedure (as set out in Chapter 6 of the 2008 Companies Act…
Provided By LexisNexis
SARS proposes tax relief for dormant group companies
Typically, companies in financial distress that wish to reduce their debt may enter into arrangements with their creditors, which may form part of the same group of companies as the debtor company, to either reduce, cancel, waive, forgive, discharge or convert …
Provided By Eversheds Sutherland
The Advertising Standards Authority and British American Tobacco
The ASA is here to Stay…
And BAT feels the effect of its power
There have been many reports about the future of the Advertising Standards Authority...
Top ten risks for creditors of companies going into business rescue in 2017
Continued pressure on business and world economies appears to continue into 2017. In South Africa, 2016 has seen several companies going out of business and...
Quo vadis – Business rescue or liquidation?
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...
Rugby, intentional conduct, insurance and insolvency – All in one?
In Hattingh v Roux NO & Others 2011 (3) SA 135 (WCC), the plaintiff, Hattingh, sought to show that the defendant, Roux junior, intentionally and...
Time to amend the Business Rescue Act?
Business rescue was introduced into our law in May 2011. But is it time for an overhaul?
The business rescue legislation has been in place for...
