Mondaq All Regions - South Africa: Insolvency/Bankruptcy/Re-structuring
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.
Cox Yeats
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.
ENSafrica
On 28 March 2014, the Supreme Court of Appeal handed down judgment in Gavin Cecil Gainsford N.O. & others v Tanzer Transport Ltd & others.
ENSafrica
The making of advance dividends before the confirmation of a liquidation and distribution account has been a longstanding insolvency practice.
Routledge Modise
Business rescue provisions clearly state that a company in business rescue enjoys freedom against prosecution of claims against it.
Schoemanlaw Inc
One of the new concepts introduced by the new Companies Act is the concept of business rescue.
Roodt Inc
There are many circumstances in which a person who disputes a debt nonetheless feels that he or she has no choice but to pay or to sign an undertaking to pay.
Werksmans Incorporated
A discussion which focuses on the anti-competitiveness of sales in execution.
Werksmans Incorporated
Since the date of inception of the new Companies Act 71 of 2008, as amended (Act) (1 May 2011), we have seen numerous and informative judgments handed down by our High Courts in the various provinces dealing with business rescue proceedings.
Routledge Modise
Once a business rescue plan has been approved and adopted and the business rescue practitioner has been appointed, the question arises as to how long a company should be allowed to remain under business rescue.
Routledge Modise
In a previous article, I commented on the trend in South African courts that the judges are saying that there must be a detailed, proposed business rescue plan before any application for business rescue will be granted.
Routledge Modise
It is inevitable that a significant number of business rescue proceedings will fail and that the company under business rescue will be placed in liquidation.
Routledge Modise
When a company is placed under business rescue, the question arises as to the enforceability of a suretyship given for the debts of or by the company.
Routledge Modise
The first case relating to Chapter 6 of Act 71 of 2008 (the Act), being the business rescue chapter, was decided by the Honourable Makgoba J in the North Gauteng High Court (case 26597/2001 – Riaan Swart as applicant and Beagles Run Investments 25 (Pty) Ltd and others as respondents).
Routledge Modise
In this article the author considers whether the creditors of a company, which is placed under business rescue, can lose the ranking status bestowed on them in terms of sections 95 to 103 of the Insolvency Act 24 of 1936 (the Insolvency Act).
ENSafrica
ENS acted on behalf of Investec Bank Limited in an application for summary judgment against a defendant where the defendant had stood surety for the debts of certain companies.
Werksmans Incorporated
Section 133 of the Companies Act, No. 71 of 2008 as amended (the Act) places a general moratorium on legal proceedings against a company in business rescue.
Werksmans Incorporated
The Minister of Justice and Constitutional Development, Mr Jeff Radebe, recently confirmed, in response to questions raised in the National Assembly, that Government is in the process of regulating the insolvency industry in South Africa.
Norton Rose Fulbright South Africa
Derivative traders last month breathed a collective sigh of relief as the draft Companies Amendment Bill (the "Amendment Bill") confirmed that derivative trades will be safe during business rescue proceedings.
Most Popular Recent Articles
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.
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