No ducking and diving – stick to the rules of insolvency
The Covid crisis has had an overwhelming impact on local business with corporate South Africa struggling to keep its head above water and the wolves at bay. With no clear indication as to how the lockdown process will further impact businesses in the coming months, an understanding of the law of insolvency can provide much clarity on the available options for companies that find themselves in financial difficulties, giving them advice on how to dispose of assets legally.
Business Rescue, liquidation or survival – time to make the call?
Big corporation or small enterprise - no business is immune to the current financial disaster 2020 has chauffeured in. We’ve seen the business rescue troubles of SAA unravel before our locked-down eyes, EDCON and Comair sending up an SOS flare and reports of...
Alternative Dispute Resolutions, a solution to your legal matters during lockdown
With the courts only open for the hearing of urgent applications or matters relating to violations of liberty, domestic violence, maintenance and matters involving children during the Covid-19 lockdown period, now more than ever finding alternative methods of...
Don’t mince your words when making those payment holiday requests
Financial managers are going to be kept busy over the next few months, prioritising payments, hopefully keeping people in their jobs, and managing the expected COVID 19 financial disaster. In negotiations with landlords, banks, financial institutions and creditors, PJ...
The whole truth and nothing but the truth
Insolvency enquiries and investigations The provisions of the Companies Act create an effective system for tracing missing assets of a company and generally revealing the circumstances that led to insolvency of a company and whether there was unlawful conduct by...
New Rule of Court forces South Africans to consider Mediation as a form of dispute resolution before turning to courts.
An amendment by the Rules Board for Courts of Law, who regulate the conduct of the proceedings of South African courts will compel individuals to declare that they have considered mediation as a solution to any forthcoming legal matter before commencing litigation...
Property agreements – make sure your ‘house’ is in order before signing an agreement
Despite the depressed property climate in South Africa, there seems to be an upswing in property market conditions, buoyed by more lenient lending criteria, lower house prices and steady interest rates. This is attractive to first-time buyers, and residential and...
South Africans soon to be forced to consider mediation before turning to courts
The Rules Board for Courts of Law has issued a draft rule proposing a new Rule that will compel South Africans to declare that they have considered mediation as a solution to any forthcoming legal matter and, if not, the court itself is obligated to manage cases...
Contractors’ Guarantees a must-have for building agreements
“Embarking on building renovations or building a new home without a comprehensive contract, including stipulated construction guarantees is very dangerous.” That’s according to attorney PJ Veldhuizen of Gillan and Veldhuizen Inc., who have represented many clients...
A warning against using online templates and DIY contracts
Besides the fact that many attorneys begin drafting client agreements from templates accumulated from years of experience and refinement, it is wise to spend the money and take the time to consult an attorney to attend to the drafting of your personal or commercial...