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Cosatu wants another Edcon bailout

By Juta and Company (Pty) Ltd Published on Tuesday, 31 March 2020
Tags: #Business & Industry Law #Company Law #Insolvency Law
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.

Edcon on the verge of collapse

By Juta and Company (Pty) Ltd Published on Friday, 27 March 2020
Tags: #Insolvency Law
The coronavirus outbreak may be about to claim its biggest corporate victim with clothing retailer Edcon facing sales losses of at least R1.2bn, putting it on the verge of collapse, says a Business Day report.

R849m bill makes SARS 'largest creditor' of Bosasa

By Juta and Company (Pty) Ltd Published on Thursday, 12 March 2020
Tags: #Insolvency Law #Litigation #Tax Law
SARS says if the Gauteng High Court granted a bid by the family of the late Gavin Watson to have six Bosasa companies placed under business rescue instead of being liquidated, it would be detrimental to the revenue service's ability to collect taxes.

Thousands of SAA jobs on the line

By Juta and Company (Pty) Ltd Published on Tuesday, 10 March 2020
Tags: #Employment and Labour Law #Insolvency Law
SAA has begun the process of consultation that could result in the cutting of thousands of jobs and would affect all of its almost 4 700 employees as it fights for survival.

Bosasa business rescue bid bound to fail

By Juta and Company (Pty) Ltd Published on Friday, 06 March 2020
Tags: #Insolvency Law #Litigation
Liquidator Cloete Murray says the application brought by the family of the late Bosasa CEO Gavin Watson to have the corruption-accused group of companies placed under business rescue instead of liquidation is destined to fail.

Eskom prepares to recoup R600m from Trillian

By Juta and Company (Pty) Ltd Published on Friday, 06 March 2020
Tags: #Insolvency Law #Litigation
Eskom will approach the Gauteng High Court (Pretoria) this month to have Trillian Management Consulting and Trillian Capital Partners liquidated.

Investigation of Highveld Syndication saga urged

By Juta and Company (Pty) Ltd Published on Thursday, 05 March 2020
Tags: #Insolvency Law #Litigation
The interests of long-suffering Highveld Syndication investors would be better served by the liquidation of Orthotouch and the holding of a section 417 Inquiry.

Eskom piles on pressure for Optimum liquidation

By Juta and Company (Pty) Ltd Published on Tuesday, 03 March 2020
Tags: #Insolvency Law #Litigation
Eskom has cut the power at Gupta-owned Optimum coal and wants it liquidated, blaming the mine’s business rescue practitioners for failing to bring it back to profitability, according to a City Press report.

SARS seeks to join bid to wind up Trillian

By Juta and Company (Pty) Ltd Published on Monday, 02 March 2020
Tags: #Insolvency Law #Litigation
SARS has filed an application to join Eskom in its High Court bid to wind up Trillian Management Consulting, a subsidiary of the controversial Trillian Capital Partners.

SARS wins drawn out battle with businessman

By Juta and Company (Pty) Ltd Published on Monday, 02 March 2020
Tags: #Insolvency Law #Litigation #Tax Law
A Cape Town businessman, whose model daughter raised eyebrows after getting an unsolicited ‘gift’ of $15.3m (about R237m) from an admirer, has been evicted from his home, says a TimesLIVE report.

Georgiou pleads poverty amid sequestration bid

By Juta and Company (Pty) Ltd Published on Monday, 02 March 2020
Tags: #Banking & Finance Law #Insolvency Law #Litigation
‘Former’ property magnate Nic Georgiou is facing provisional sequestration, after he failed to pay R12.9m to a former investor in the Highveld Syndication schemes.

Watson children subpoenaed to Bosasa insolvency inquiry

By Juta and Company (Pty) Ltd Published on Thursday, 20 February 2020
Tags: #Insolvency Law #Litigation
The children and nephew of late Bosasa CEO Gavin Watson – Lindsay, Roth and Jared Watson – have been subpoenaed to appear before a confidential insolvency inquiry where they are set to be interrogated about the corruption accused company's affairs.

Bank opposes firm's bid for business rescue

By Juta and Company (Pty) Ltd Published on Wednesday, 19 February 2020
Tags: #Banking & Finance Law #Insolvency Law #Litigation
Embattled East London electronics company Yekani Manufacturing has opted for business rescue to stave off liquidation by Standard Bank, but the bank has moved to oppose the application.

Law firm's accounts unfrozen

By Juta and Company (Pty) Ltd Published on Monday, 10 February 2020
Tags: #Banking & Finance Law #Insolvency Law #Litigation
The Limpopo High Court (Polokwane) has ordered liquidators in the case of lawyer Tumi Mokwena to unfreeze his law firm's trust account with immediate effect.

SA Express to appeal business rescue judgment

By Juta and Company (Pty) Ltd Published on Friday, 07 February 2020
Tags: #Aviation Law #Insolvency Law #Litigation
SA Express, which was ordered yesterday by the Gauteng High Court (Johannesburg) to go under business rescue for failing to settle its debt of R11m to global logistics firm Ziegler SA, is to appeal the ruling.

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