Legal Articles and Guides
Coinit investors could get money back
Investors in the Dundee-based Coinit Trading ‘pyramid scheme’ are hoping to get some of their money back, reports TimesLIVE.
Provisional sequestration of businessman's estate sought
The Western Cape High Court will today hear whether the estate of Somerset West businessman Hendrik Gerryts should be placed into provisional sequestration.
PA loses bid to remove 3Sixty Life curator
The Prudential Authority (PA) has lost its urgent application to have the provisional curator of embattled underwriter 3Sixty Life removed.
MTI case postponed over late filings
The Western Cape High Court has postponed an application to have disgraced bitcoin trading platform Mirror Trading International declared a Ponzi scheme, reports Fin24.
Ster-Kinekor offered R250m lifeline
SA’s largest cinema chain, Ster-Kinekor, could soon be out of business rescue and back to normality after a R250m offer was made for the business.
Gupta-owned company appeal bid judgment reserved
The Free State High Court (Bloemfontein) has reserved judgment in a bid by the directors of a Gupta-owned company in business rescue to be allowed to represent their group legally, reports Fin24.
VBS Bank creditors start receiving payments
More companies and municipalities whose money went up in smoke when VBS Mutual Bank went under will be getting some payment back.
Steinhoff's R24bn settlement gets final approval
The Western Cape High Court (Cape Town) yesterday approved the Steinhoff R24bn settlement, closing the chapter of litigation that once threatened to sink the retail company.
Guptas fail to overturn ruling
Another Gupta-owned company has lost its legal challenge to a Gauteng High Court (Pretoria) order, forcing it to pay nearly R89m of a R123m loan it received from the Bank of Baroda.
Guptas lose bid to block business rescue practitioners
The business rescue practitioners (BRPs) of Optimum Coal scored a High Court win over a Gupta bid to delay a creditors meeting that is aimed at pushing through a debt-to-equity takeover of the business.
Blow for Nova investors
The Nova Property Group, the company set up to allegedly ‘rescue’ the R4.6 bn that around 18 700 people invested in Sharemax, said last week it would not repay investors within the 10-year period envisaged in the original rescue plan.
V&A targets cash-strapped property mogul
Leading property developer Stuart Chait is squaring up to the V&A Waterfront which alleges he owes more than R5m in unpaid rent and interest.
VBS liquidator targets couple over R100m arrears
Business couple Itumeleng Mafoko and his wife Mabuyi Memela are opposing a writ of execution application lodged by liquidators of VBS Mutual Bank at the Gauteng High Court (Johannesburg) in an attempt to compel them to repay the more than R100m debt owed by their Leratadima Trust.
Africrypt gets another investor offer
Barely a week after a mystery ‘white knight’ offered creditors $4m (R64m) to bail out investors in the failed Africrypt scheme, another mystery investor has appeared with a better offer of $5m (R80m), equivalent to 65 cents in the rand.
Investment offer delays Ster-Kinerkor rescue plan
Ster-Kinekor’s road to recovery from the financial fallout of the Covid-19 pandemic has seen a slight delay as business rescue practitioner, Steyn Smyth, requested the deadline for the publication of its business rescue plan be extended to January.
