ConCourt refuses to hear Steinhoff liquidation appeal

The Constitutional Court has refused Steinhoff's application for leave to appeal a Western Cape High Court ruling that found it had the requisite jurisdiction to hear the liquidation matter.

SCA slams Santam’s ‘tortured’ attempt to avoid liability

The SCA has dismissed an appeal by Santam against a contingent business interruption (CBI) claim verdict, offering certainty to one of the most contentious legal debates in the short-term insurance industry since the start of the Covid-19 pandemic.

Commission thumbs up for big mergers

The Competition Commission has made a number of key recommendations for approval, including giving retail pharmacy Clicks the green light to acquire 25 Pick n Pay retail pharmacies.

Billions in electricity debt to be written-off

The City of Johannesburg has signed an MoU with Eskom to take over its consumer base in the metro, which will include absorbing billions in customer debt, reports The Citizen.

Business gets a breather as lockdown is eased

As SA emerges from its third wave of coronavirus infections, Cabinet has agreed to further ease lockdown restrictions and move the country from adjusted alert level two to level one, President Cyril Ramaphosa announced last night.

Steinhoff bid for urgent settlement hearing struck off

The Western Cape High Court has rejected Steinhoff’s bid for an urgent hearing of its settlement proposal with local claimants, ratcheting up the pressure on the embattled retailer that faces a series of deadlines in its bid to remain afloat.

Zondo Commission gets extension to year-end

The State Capture Inquiry has been granted a fifth extension, giving the team another three months to complete three years’ work.

Eskom cut-off ruling has wide implications

Although, as reported previously, Eskom has been dealt a blow in its bid to recover unpaid bills after the Constitutional Court upheld a ruling by the SCA that the power utility’s decision to disconnect electricity to two defaulting municipalities was irrational, the implications for the state are much broader.

NCR accused of backing banks against home-owners

The National Credit Regulator (NCR) is accused of siding with the banks in a R60bn class action brought by the Lungelo Lethu Human Rights Foundation after it demanded the return of documents that purport to show perjury by the banks and a pattern of selling foreclosed houses for a song, says a Moneyweb report.

Push for law to unleash business start-ups

Start-up players in SA recently released findings as part of a proposal to create a start-up law, calling on government for legislation to enable local tech-backed businesses to scale faster and compete globally without having to go offshore.

Race-based criteria for funding aid ruled unlawful

The SCA found yesterday that it was unlawful for the Tourism Minister to require that tourism businesses meet B-BBEE requirements in order to be considered for relief from government's Covid-19 fund, says a Fin24 report.

Tribunal approves Burger King sale

The Competition Tribunal has given the sale of the SA franchise of Burger King by Grand Parade the go-ahead, with conditions, allowing foreign investment worth about R470m to flow into the country.

Sapo workers face loss of medical aid cover

About 15 000 SA Post Office (Sapo) employees and pensioners may have no medical aid from next month after the Medipos medical scheme told them it was cutting them off because it is owed R602m in member contributions by the postal service, according to a Sunday Times report.

Contractors still not paid despite Protector's order

Three contractors in Gauteng died while still waiting for the Gauteng Department of Human Settlements to pay them for work done on a low-cost housing project in Alexandra, Johannesburg, more than 20 years ago, says a City Press report.

Deloitte seeks to intervene in Steinhoff liquidation case

Auditor Deloitte and 128 other parties have applied to intervene in the Steinhoff liquidation matter that threatens its survival, further delaying the legal case that is yet to get off the ground.

Court approves Steinhoff liquidation hearing

The application to liquidate retailer Steinhoff can go ahead this week, Judge Hayley Maud Slingers ruled on Friday evening, dismissing Steinhoff’s application for a postponement, notes a BusinessLIVE report.

Liquidation could destroy settlement process

If Tekkie Town succeeds in its liquidation of Steinhoff, it will cause catastrophic damage to the settlement processes that aim to save Steinhoff and pay thousands of creditors. Instead, creditors are being held ‘to ransom’ by two men applying for the liquidation. 

Viceroy to appeal fine for ‘false’ Capitec report

Viceroy Research has vowed to appeal a R50m fine imposed by the Financial Sector Conduct Authority (FSCA) over a 2018 report on Capitec.

Ruling clears path for Steinhoff liquidation bid

The former owners of Tekkie Town can proceed with their liquidation application against Steinhoff International, after the Western Cape High Court dismissed the intervention application of two parties and confirmed that the local courts have jurisdiction to hear the case.

Santam makes headway on business interruption claims

Santam is making headway in settling business interruption claims originating from the Covid-19 pandemic, outgoing CEO Lizé Lambrechts said yesterday following the release of the group’s half-year results to end of June 2021.