Legal Articles and Guides
Georgiou pleads poverty amid sequestration bid
‘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
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
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
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
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.
Trillian, Wood's assets attached by SARS
SARS has attached the assets of state capture-linked firm Trillian and its sole director, Eric Wood. During a liquidation application brought by SARS and heard in the Gauteng High Court (Pretoria) yesterday, it emerged that the revenue service had appointed a curator to attach Trillian's and Wood’s assets.
GEPF caught up in dodgy land deal
A company accused of looting the Municipal Councillors Pension Fund (MCPF) by selling vacant stands for millions to the pension fund, has now sold a large piece of land – allegedly also vacant – for more than R0.5bn to the Government Employees Pension Fund (GEPF).
Airlink seeks R700m owed by SAA
Regional airliner SA Airlink is heading to court to get permission for litigation against SAA under business rescue, according to Rapport.
Judgment reserved on SA Express business rescue
The Gauteng High Court (Johannesburg) has reserved judgment in an application brought by a private logistics company for SA Express to be placed in business rescue over unpaid debt, notes a Fin24 report.
Time to shut down SAA – Business Leadership boss
The CEO of business lobby group Business Leadership SA has called for SAA to be shut down, hours after the cash-strapped airline cancelled several international flights to save money yesterday.
Judge recuses himself from Mokwena liquidation saga
The urgent application by Polokwane lawyer Tumi Mokwena for the suspension of a liquidation order against his law firm, was removed from the Limpopo High Court roll this week, says a News24 report. This was after Judge Gerrit Muller recused himself.
RMB, former investment banker in bitter battle
Fred Arijs, a former investment banker and one-time Belgian honorary consul in the Eastern Cape, has accused RMB and several senior bank executives of taking him to the cleaners, in a calculated scheme to defraud him and his business partners in two property deals gone horribly wrong, says a Moneyweb report.
Lawyer seeks suspension of liquidation order
Polokwane lawyer Tumi Mokwena has lodged an urgent application in the Limpopo High Court for the suspension of a liquidation order against his law firm, TMC Incorporated.
Bid to close transport tycoons' company
The money woes of Durban transport tycoons Alvin and Inderan Naicker have worsened, with Absa Bank applying to have their flagship firm, Crossmoor Transport, liquidated.
More claims against Gupta mines
Two of the remaining key assets in the now defunct Gupta empire – coal mines Koornfontein and Optimum – are the subject of yet more litigation, coming on top of the roughly 50 court cases batted away by the business rescue practitioners (BRPs) over the last two years, notes a Moneyweb report.
