Legal Articles and Guides

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.

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

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.

Former SAA chairperson Dudu Myeni has launched a blistering attack on the judge who declared her a delinquent director for life, arguing that there were many mistakes in the judgment, says a Daily Maverick report.

Regrettably the pandemic still shows no sign of going away any time soon, and the social distancing it has brought to our “new normal” leaves companies with a dilemma. How can you comply – safely and lawfully – with the Companies Act’s stringent requirements for the holding of Annual General Meetings and (where needed) interim General Meetings?

One of the liquidators of a former Gupta company has attacked the wide discretion afforded to business rescue practitioners (BRPs), in court papers supporting an application for the liquidation of the Optimum Coal Mine, says a Moneyweb report.

The Organisation Undoing Tax Abuse (Outa) and the SAA Pilots' Association (Saapa) are asking the Gauteng High Court (Pretoria) for an order that its ruling in May, declaring Dudu Myeni as a delinquent director, be enforced despite the former SAA board chair's appeal.

Steinhoff International got some respite on Friday as the Gauteng High Court (Johannesburg) dismissed a local class action suit brought against the global retailer after an accounting crisis in late 2017 caused its share price to collapse.

Judge Ronel Tolmay’s recent judgment declaring Dudu Myeni a delinquent director sets a legal precedent which will shake up SA’s corporate governance landscape, notes a Financial Mail commentary.

In a damning judgment yesterday, former SAA chair Dudu Myeni was declared a delinquent director for life in terms of the Companies Act.

We have already seen the economic and business impact of COVID-19 in China, Italy, and Japan and it is almost inevitable that this will spread to the rest of the world. It is thus important for companies to take proactive steps to ensure that they can fulfill their contractual obligations in the upcoming months and that the parties they are contracting with are doing the same in order to prevent the need for invoking a force majeure clause.

Just more than a year after Edcon was handed a R2.7bn bailout, labour federation Cosatu reckons saving the clothing retailer is worth another shot.

The Gauteng High Court (Johannesburg) has dismissed an urgent application by former Old Mutual CEO Peter Moyo to stop the company from hiring a new chief executive on a permanent basis pending the appeal of a January ruling that found his dismissal was lawful.

What happens if relations between you and your fellow company directors sour to the extent that a director leaves? Can he or she immediately open up a new business in direct competition to you?

The hearing of the application to have former SAA chairperson Dudu Myeni declared a delinquent director concluded in Gauteng High Court (Pretoria) on Friday, with Judge Ronel Tolmay reserving judgment while awaiting transcripts of the day's proceedings, says a Fin24 report.