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Company Law

Company Law

Most recent Articles posted

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.

Scathing ruling finds Barnabas Xulu 'flouted the law'

Attorney Barnabas Xulu will have to pay back more than R20m in legal fees unlawfully paid to his firm, following a scathing High Court ruling that found the lawyer for Western Cape Judge President John Hlophe had ‘flouted the law’.

Court papers reveal Mango is drowning in debt

After years of secrecy around Mango’s true financial status, court papers reveal the budget airline is drowning under a debt of R2.5bn, Rapport reports.

Steinhoff breached Companies Act in 2019

Steinhoff's route to concluding a settlement with claimants may have got trickier after the Western Cape High Court found that it breached the Companies Act two years ago.

EOH in multi-billions suit against former top brass

EOH Holdings is suing its co-founder and former CEO, Asher Bohbot, and its former chief financial officer, John King.

ConCourt confirms SCA’s Altron ruling

The Constitutional Court has ruled in favour of Altron, standing behind a 2020 decision by the SCA to overturn a High Court ruling on the loss of a contract worth R1.2bn by the City of Tshwane that had been awarded to the technology group.

Are Restraints of Trade Valid in a Time of Covid?

Consider this unhappy (but not unlikely) scenario: For whatever reason, you part ways with your fellow director/shareholder (or perhaps a key employee), who goes off immediately to join (or found) the opposition.

Another day, another defeat for Myeni

Former SAA chairperson Dudu Myeni's attempts to reverse the lifetime declaration that she is a delinquent director may be almost over, with only the Constitutional Court option left.

Guptas take battle with BRPs to top court

The Gupta family have turned to the Constitutional Court in a bid to wrest control of some of their biggest companies from the hands of business rescue practitioners (BRPs) – who they have accused of maliciously implicating them in criminal conduct, according to a News24 report.

Land Bank hits suspended CEO with R3.5m penalty

Daybreak Farms’ Boas Seruwe, abruptly suspended in January as chief executive of the poultry producer midway through his five-year contract, has been slapped with a R3.5m penalty by the Land Bank for irregularly paying out dividends to Daybreak’s shareholder without consent from the development finance institution.

Deloitte offers R1bn in Steinhoff ‘settlement’

In a deal that could herald the end of one of Deloitte’s messiest chapters in SA, the global big four audit firm – accused of having failed to detect accounting fraud at Steinhoff – has offered more than R1bn to help its former client settle claims related to the scandal.

Another ruling against delinquent director Myeni

Former SAA chair Dudu Myeni has been dealt yet another blow in her attempts to halt the implementation of a ruling from 2020 which found her to be a delinquent director.

Another appraisal rights win for minority shareholders

Minority shareholders should not have to resort to legal action to get a company to buy back their shares at ‘fair value’ if it implements a significant transaction they oppose.

How does voluntary liquidation work in South Africa?

The process of liquidation involves a company (or close corporation) ceasing all trading activities, selling its company assets and then distributing the proceeds to its creditors. There are two options for the voluntary winding-up of a solvent business.

Liquidation a step nearer for Gupta-linked firms

Several companies owned by controversial Gupta lieutenants Eric Wood and Salim Essa are close to being liquidated after the Gauteng High Court (Johannesburg) ordered that they be treated as one entity before their winding down, says a Cape Times report.

Myeni's delinquent director challenge takes new shape

Former SAA chairperson Dudu Myeni is seeking leave to introduce new evidence pertaining to the testimony of the airline's former board member, Yakhe Kwinana, at the State Capture Inquiry.

Force majeure on the fringes of the pandemic lockdown

The COVID-19 pandemic-induced lockdown in South Africa has brought the legal considerations of force majeure into sharp focus across multiple industries, particularly in engineering and construction circles.

Steinhoff gets lawsuits backing, but ...

Steinhoff has been emboldened in its attempt to settle some 90 lawsuits for R18.7bn after all but one of its creditors voted in favour of a settlement, Die Burger reports.

Steinhoff, Pepkor win Tekkie Town battle in SCA

The SCA has ruled in favour of Steinhoff and Pepkor in one of their legal battles with former Tekkie Town executives.

Myeni SCA appeal doomed to fail

The appeal by disgraced former SAA chair Dudu Myeni against the order of Judge Ronel Tolmay in the Gauteng High Court (Pretoria) declaring her a delinquent director – on the basis that, among other reasons, it supposedly violated her constitutional rights – confirms Myeni has no idea of what the Companies Act expects of directors.

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