Legal Articles and Guides
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 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.
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.
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.
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 will approach the Gauteng High Court (Pretoria) this month to have Trillian Management Consulting and Trillian Capital Partners liquidated.
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 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 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.
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.
‘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.
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.
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.
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, 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.