Legal Articles and Guides
Tycoon claims FNB misled justice system
Cameroonian business tycoon El Hadj Ahmadou Baba Danpullo believes FNB misled the justice system with its decision to seize and liquidate all properties belonging to him in SA.
JSE censures cannabis firm
The JSE has publicly censured AltX-listed Nutritional Holdings for being tardy in providing important information to shareholders, report Fin24.
3Sixty Life appeal bid dismissed, SCA looms
3Sixty Life has had its application for leave to appeal against its final curatorship dismissed by the Gauteng High Court (Johannesburg), says a Business Day report.
'Bombshell’ letter flags liquidation funding model
A letter from lawyers for the liquidators of Regiments Capital sent business personalities Litha Nyhonyha and Niven Pillay into a tailspin ahead of an important court hearing yesterday.
How Ster-Kinekor dodged the bullet
As a result of the Covid-19 pandemic which resulted in economic restrictions, Ster-Kinekor’s board of directors launched a pre-emptive move to determine whether the group was in financial distress and whether a voluntary business rescue was the best course of action.
MTI liquidators deny SARS owed R1bn in back taxes
The liquidators of disgraced bitcoin trading site Mirror Trading International (MTI) have denied the company owes SARS almost R1bn in back taxes and penalties, reports Fin24.
SARS seeks own liquidator in MTI case
The SARS wants the Western Cape High Court to admit its own nominated liquidator to oversee the winding up of failed bitcoin scheme Mirror Trading International (MTI), which collapsed in 2020 when founder and CEO Johann Steynberg fled to Brazil.
Business rescue for Tongaat Hulett
Tongaat Hulett, which has a SA debt pile more than ten times its market value, is heading for business rescue after failing to get a nod from lenders on its restructuring plan.
Appeal to halt liquidation of VBS casualties dismissed
The SCA has dismissed an appeal by the black investment firm, Lebashe, to halt the liquidation of Bophelo Life and Nzalo Insurance, reports Fin24.
BRPs demand fees for Gupta-linked firm
An aircraft in Dubai tied to Gupta-linked business Islandsite is among assets raised in the Free State High Court (Bloemfontein) case in which its business rescue practitioners (BRPs) are demanding legal fees related to its frozen assets.
3Sixty Life under final curatorship
Nine months after 3Sixty Life has been placed under interim curatorship by the Gauteng High Court (Johannesburg), Judge Fiona Dippenaar ruled that the insolvent funeral insurer, owned by the National Union of Metalworkers of SA (Numsa), should be put under final curatorship.
MTI order likely to be challenged
Liquidated bitcoin scheme Mirror Trading International (MTI) was the subject of another court hearing this week in the Western Cape High Court, and the ruling may not please everyone involved.
Mango's preferred bidder delivers proof of funding
Low-cost airline Mango is one step closer to being sold as its preferred bidder delivered proof of funding, according to business rescue practitioner Sipho Sono in his latest status report.
End of the road for Health Squared?
The Gauteng High Court (Johannesburg) has granted Health Squared Medical Scheme leave to apply for voluntary liquidation on 27 September 2022, but has yet to decide on the industry regulator’s urgent application to place the scheme under curatorship.
Specialists to ask court to delay liquidation
A group of kidney specialists is trying to delay the liquidation of Health Squared Medical Scheme by two months, arguing that the troubled scheme has enough funds to cover patients while they secure appropriate alternative cover.
