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Most recent Articles posted
Outa challenges delinquent director law
The Organisation Undoing Tax Abuse (Outa) is heading to court to ensure that state-owned enterprises (SOE) directors can also be declared delinquent. The Public Finance Management Act protects most SOE boards, CEOs and CFOs from being declared delinquent directors.
JSE regulators take aim at cannabis firm
A question mark hangs over the fate of cannabis company Labat Africa after it received another suspension warning from the JSE, having failed to publish financial reports again.
Prominent businessman sued for R123.7m
Prominent businessman Lazarus Zim has been summonsed by a former stockbroker to pay him nearly R123.7m plus interest, for allegedly breaching an agreement linked to a broad-based black economic empowerment (B-BBEE) transaction involving JSE-listed Northam Platinum.
Signs of hope for technically insolvent Cell C
Cell C remains technically insolvent, but there are signs that it is starting to turn the corner ahead of a possible listing.
Blue Label’s name change approved
Cell C owner Blue Label Telecoms has received the requisite shareholder approval to change its name to Blu Label Unlimited.
Daybreak considers business rescue
State-owned chicken producer Daybreak Foods says it is considering business rescue, a day after officials from the National Council of Societies for the Prevention of Cruelty to Animals (NSPCA) said it had been forced to cull thousands of starving chicks.
Rainbow Capital moves to delist from JSE
Patrice Motsepe’s African Rainbow Capital Investments (ARCI) plans to delist from the Johannesburg Stock Exchange (JSE), offering shareholders R9.75 per share.
Reserve Bank blocks trade in Pepkor shares
The SARB has blocked trade in 506m Pepkor shares worth about R12.5bn as it continues to investigate Steinhoff.
PetroSA wants money back from Mazars
‘Low risk’. That’s how consultants from the professional services firm Mazars described notorious wheeler dealer Lawrence Mulaudzi in an October 2023 due diligence report, says an amaBhungane report on the News24 site.
En commandite partnerships offer a strategic advantage in structuring transformation deals for government procurement, balancing BBBEE compliance with operational control. This article explores the legal benefits of en commandite partnerships, highlighting their role in attracting investment, managing risk, and ensuring long-term sustainability in public procurement projects, all while driving meaningful transformation in South Africa’s economy.
Auto parts giant back from the brink
The Competition Commission has supported the proposed takeover of AutoZone, helping save the company after it entered a business rescue earlier this year.
Autozone on the ropes over lending stalemate
AutoZone has published a business rescue plan which the retailer hopes will help secure its future following a tumultuous four years.
Shoprite sells furniture stores
Shoprite Holdings has signed an agreement to allow its rival, Pepkor to acquire its furniture stores.
Potential bidders target AutoZone
Potential bidders have emerged for the acquisition of AutoZone, the large privately owned automotive parts retailer and wholesaler active in southern Africa that was placed in voluntary business rescue effective from 1 July 2024.
JSE slaps R3m fine on Eskom over late reports
The JSE has publicly censured and levied a R3m fine on Eskom for its late reporting on issues like loans to related parties, such as board members.
PepsiCo to sell Marmite and Bovril brands
PepsiCo SA is selling its popular Marmite and Bovril brands in SA, along with the business unit that produces them, to a privately owned Canadian-based company called Lallemand.
Grave concerns over Shell’s planned departure
Chairperson of the Portfolio Committee on Mineral Resources & Energy, Sahlulele Luzipo, yesterday said Shell’s decision to divest from SA is a matter of concern and is not ideal as it comes at the end of their term.
Legal precedent set in Jooste’s asset forfeiture
Developments in the Steinhoff scandal – particularly the forfeiture of assets belonging to Markus Jooste’s former partner Berdine Odendaal – have set a significant legal precedent in the fight against corporate fraud in SA, said Fairbridges Wertheim Becker Attorneys’ Dhahini Naidu in a Business Day report.
Creditors cannot sue company directors directly
In what BusinessLIVE calls a landmark judgment, the SCA on Wednesday said creditors cannot sue directors of a company directly.
Sipho Sono, he business rescue practitioner (BRP) of low-cost airline Mango, says he is proceeding with selling the airline after Public Enterprises Minister Pravin Gordhan failed to meet a deadline set by the High Court to make a decision on the proposed sale as required by the Public Finance Management Act.
