Legal Articles and Guides
‘Unlawful’ liquidation of Bosasa flagged
The nephew of late Bosasa CEO Gavin Watson has reported the Master’s Office in Johannesburg to the Special Investigating Unit (SIU) over the unlawful approval of Bosasa’s liquidation.
Nova unable to repay former Sharemax investors
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.
Post Office BRP trying to stop ‘cash flow bleed’
The Post Office’s debt exceeds it assets by R12.5bn, according to business rescue practitioners who gave their first update after two months at the helm trying to save the state-owned entity, reports BusinessLIVE.
MTI members line up for small dividend
Liquidators for crypto Ponzi scheme Mirror Trading International (MTI) say roughly 10 000 members – out of the hundreds of thousands that signed up – could receive a dividend pay-out of 50c to 60c in the rand.
No hope in sight for Nova investors
The Nova Property Group has, for the seventh consecutive year, failed to publish its financial statements within the six months prescribed by the Companies Act.
BRPs to sell R650m Rebosis assets
Rebosis Property Fund’s business rescue practitioners (BRPs) are to sell 10 of the stricken group’s office properties to Hemipac Investments for R650m.
SARS wins Regiments liquidation battle
The Gupta-linked company Regiments Capital will be liquidated after SARS triumphed in the Constitutional Court, reports Fin24. Regiments Capital featured prominently in questionable tenders awarded to Gupta-linked companies.
Malema wants ANC MP’s assets attached
EFF leader Julius Malema wants the Western Cape High Court to sequestrate the estate of ANC MP Boy Mamabolo more than three years after they buried the hatchet over ‘false and defamatory’ comments made in 2020.
Liebenberg demands judge’s removal
Controversial diamond dealer Louis Liebenberg walked out of an insolvency inquiry yesterday after he demanded the recusal of former Judge Eberhard Bertelsmann as commissioner.
Zuma must pay back Liebenberg ‘donation’
Former President Jacob Zuma must pay back the funds his legal team received from controversial diamond dealer Louis Liebenberg, an insolvency inquiry has found.
Liebenberg slams 'weaponisation' of liquidators
Founder of Tariomix (Pty) Ltd and diamond mogul Louis Liebenberg has slammed the weaponisation of the country’s liquidators, whom he accused of targeting him and his companies by unlawfully liquidating his company.
New legal twist in Arthur Kaplan case
There was a new legal twist in the R50m Arthur Kaplan jewel heist case yesterday, reports TimesLIVE. The matter, now a consolidation of cases, has been referred to the DPP to decide which court will hear the matter.
Government responds to Sapo business rescue ruling
The Department of Communications & Digital Technologies yesterday said the court ruling forcing the SA Post Office (Sapo) into business rescue was an indication that the service is still seen as essential and worth sparing from liquidation.
Sapo to be placed in business rescue
The Gauteng High Court (Pretoria) has granted the government's application to place the SA Post Office (Sapo) in business rescue, putting a halt to ongoing liquidation proceedings and paving the way for a R2.4bn taxpayer bailout, reports Fin24.
Postbank stands to lose R3.5bn
The future of Postbank’s plans to become a fully-fledged bank may be under threat as it stands to lose R3.5bn if the Post Office is placed in business rescue, while its deposits have no protection in law.
