The duty to disclose business rescue proceedings
On 14 April 2016, the Supreme Court of Appeal (“SCA”) in the matter of Umso Construction Proprietary Limited (“Umso”) v MEC for Roads and Public...
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.
Spotlight on boards and shareholder activism
Corporate activism places public pressure on boards to improve both financial and non-financial performance of companies. Non-financial performance would include corporate governance, ethics, executive remuneration...
Business rescue: Is the moratorium enforceable in employment disputes?
One of the innovations introduced by the Companies Act, 71 of 2008 (“Companies Act”) is the mechanism of business rescue proceedings in South Africa. In...
Can a retrenchment process start before a business rescue plan has been approved?
In a recent case, the Labour Court needed to consider the interplay between section 136 of the Companies Act, 2008 and section 189 of the...
The legal impact of social media networks – International trends
Social media cannot be ignored.
There has been a rapid proliferation of social media channels for corporate communication and an increasing number of public companies are...
Delegates from across Africa attend round table on insolvency legislation and financial Stability
A lack of effective insolvency legislation is still hindering investment in many parts of Africa. This issue, and ways to implement effective legislation, was under...
by Bowmans
Judgment clarifies proper interpretation of the words “Binding Offer” in business rescue
On 20 May 2015, the South African Supreme Court of Appeal (SCA) delivered judgment in the matter of African Banking Corporation of Botswana v Kariba Furniture...
Do the requirements of Section 34 of the Insolvency Act have to be complied with in a transfer during business rescue proceedings?
We all know that if a trader intends transferring any business that belongs to him, its goodwill or the goods or property that form part...
