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SIU probes SAA’s R3.4bn dodgy deals

By Daily News Published on Wednesday, 22 November 2023
Tags: #Aviation Law #Business & Industry Law #Litigation
An investigation by the Special Investigating Unit (SIU) of the affairs of SAA has recovered R14m and identified a further R3.4bn that has to be recouped from companies and individuals who were awarded contracts irregularly.

Koeberg unit synchronised to electricity grid

By Daily News Published on Monday, 20 November 2023
Tags: #Business & Industry Law
Koeberg's unit one is back on the electricity grid after almost a year and long delays. Its three steam generators had to be replaced to extend Koeberg's lifespan for another 20 years.

Backlash over 'unprovoked' trade barriers

By Daily News Published on Tuesday, 14 November 2023
Tags: #Business & Industry Law
Agricultural industry bodies and the Department of Agriculture, Land Reform & Rural Development have hit back at weekend media reports which suggested that farmers who did not comply with certain BEE requirements would no longer be allowed to export to the EU and the UK.

Keen interest in Coronation’s tax case

By Daily News Published on Tuesday, 14 November 2023
Tags: #Business & Industry Law #Litigation #Tax Law
National Treasury has withdrawn – for now – the far-reaching proposed amendment to the Income Tax Act pertaining to the rules governing offshore entities of SA multinationals.

Cape Winelands Airport seeks approval

By Daily News Published on Tuesday, 14 November 2023
Tags: #Aviation Law #Business & Industry Law #Environmental Law
The proposed redevelopment and expansion of the Cape Winelands Airport estimated to cost about R7bn has entered the next phase, with an application to the Department of Environmental Affairs & Development Planning for environmental approvals.

Nova unable to repay former Sharemax investors

By Daily News Published on Thursday, 09 November 2023
Tags: #Business & Industry Law #Insolvency Law #Property Law
The Nova Property Group is in a desperate financial position and is unable to repay its debenture holders – former Sharemax investors – anytime soon, if ever.

UIF escapes disclaimer, but…

By Daily News Published on Wednesday, 08 November 2023
Tags: #Business & Industry Law
The Unemployment Insurance Fund (UIF) ‘miraculously’ escaped a disclaimer when it landed a qualified audit opinion for the 2021/22 financial year, says a report in The Mercury.

Dis-Chem counts the cost of ‘no whites’ letter

By Daily News Published on Wednesday, 08 November 2023
Tags: #Business & Industry Law
Dis-Chem has disclosed the impact of a controversial internal memo penned by former CEO Ivan Saltzman in October 2022 that prohibited the appointment and promotion of white people at the group.

Government takes hard line on illegal spaza shops

By Daily News Published on Tuesday, 07 November 2023
Tags: #Business & Industry Law #Health Care & Social
Government wants to clamp down on spaza shops being run by foreign nationals who are in the country illegally and who have not invested financially as required by law, reports EWN.

Property syndication complaints a ‘serious problem'

By Daily News Published on Tuesday, 07 November 2023
Tags: #Banking & Finance Law #Business & Industry Law #Property Law
The Financial Advisory and Intermediary Services Ombud, which handles disputes in the sector, put more than R39m back into consumers’ pockets over the past financial year, reports the Mail & Guardian.

Jooste to challenge R15m JSE fine ruling

By Daily News Published on Thursday, 02 November 2023
Tags: #Business & Industry Law #Litigation
Former Steinhoff boss Markus Jooste is continuing to fight efforts by the Johannesburg Stock Exchange (JSE) to fine him for his role in SA's largest accounting scandal, reports Fin24.

R3bn Ponzi rip-off allegedly involved 2 000 clients

By Daily News Published on Monday, 30 October 2023
Tags: #Banking & Finance Law #Business & Industry Law #Criminal Law
City Press has revealed details of a massive Ponzi scheme it says is worthy of infamous Wall Street scamster Bernie Madoff.

ConCourt to address SA Coke firm's merger

By Daily News Published on Monday, 23 October 2023
Tags: #Business & Industry Law #Competition Law
SA’s competition tsar will next month tell the Constitutional Court that the SA arm of Coca-Cola Beverages Africa (CCBA) conjured up a plan to get rid of workers after a 2016 merger, contravening one of the key conditions set by authorities in approving the deal.

Green light for R3bn sale of shopping malls

By Daily News Published on Friday, 20 October 2023
Tags: #Business & Industry Law #Competition Law
The Competition Commission has unconditionally approved the sale of five shopping malls, carrying a total transaction value of R3.9bn.

Moti's alleged ties to VBS hawala uncovered

By Daily News Published on Thursday, 19 October 2023
Tags: #Business & Industry Law
An in-depth investigation by amaBhungane has linked controversial businessman Zunaid Moti to an elaborate money-laundering and gold smuggling operation, involving the ill-fated VBS Mutual Bank.

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