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Financial Matters Amendment Bill With Amendments To The Insolvency Act Published – Financial Market Participants Have Until Just 8 February To Comment
On 1 February 2019, the South African Minister of Finance published the Financial Matters Amendment Bill (the "Bill") containing a long-awaited amendment to section 83 of the Insolvency Act, 1936.
South Africa
13 Feb 2019
2
Bill Amending The South African Insolvency Act On OTC Derivatives Published For Comment
As we have written in a number of previous articles, National Treasury, together with the Prudential Authority and the Financial Sector Conduct Authority ...
South Africa
20 Sep 2018
3
Pooling Of Assets In Rwanda: What Message Does The New Insolvency Law Send To Corporate Groups?
It has been long-established by the classic fundamental principles of corporate law that companies are separate and distinct persons from their shareholders, directors and officers.
South Africa
10 Jul 2018
4
Mauritius Supreme Court Sheds Some Light On Priority Of Tax Claims In Liquidations
In The Car Company Ltd (in Liquidation) v. The Mauritius Revenue Authority, the Commercial Division of the Supreme Court ruled that the amount of taxes due under the Value Added Tax Act and the Income Tax Act ..
South Africa
21 Jun 2018
5
Revised Debt Reduction Rules
The debt reduction provisions contained in section 19 of the Income Tax Act, 1962 and paragraph 12A of the Eighth Schedule to the Act have been amended with effect from 1 January 2018 and are applicable to years ...
South Africa
29 May 2018
6
Protecting Debtors Under Administration In Uganda From Legal Proceedings By Their Creditors
The case of Uganda Telecom Limited v Ondama Sammuel t/a Alaka & Co (Miscellaneous Application No. 12 of 2018) presented the Ugandan courts with an opportunity to test the provisions of the Insolvency Act, 2011 ...
South Africa
29 May 2018
7
When Without Prejudice Isn't
The without prejudice rule has long been part of South African law. This rule provides that statements, including admissions of liability, made in an attempt to settle litigation between parties.
South Africa
14 Jul 2017
8
What Does The Administration Of Uganda Telecom Limited Mean For Creditors And Other Stakeholders?
The recent administration of heavily indebted Uganda Telecom Limited ("UTL") aims to achieve the best outcome for creditors and shareholders.
Uganda
11 Jul 2017
9
Fundamental Reform In Business Facilitation And Expansion Of Economic Horizons In Mauritius
Below is an overview of those legal changes that we deem notable.
Mauritius
12 Jun 2017
10
Defaulting On Loan Agreement Instalments: When Does A Creditor's Claim Prescribe?
Acceleration clauses are commonly found in loan agreements that require debtors to make repayment in instalments.
South Africa
8 Sep 2016
11
Can A Retrenchment Process Start Before A Business Rescue Plan Has Been Approved?
In a recent case, the Labour Court needed to consider the interplay between section 136 of the Companies Act, 2008 and section 189 of the Labour Relations Act, 1995 ("the LRA").
South Africa
11 May 2016
12
The Liability Of Shareholders For The Tax Debts Of A Company
It has a long been a principle of company law that the debts of a company are not the debts of its shareholders.
South Africa
23 May 2014
13
SCA Sets Aside Dispositions Resulting In Creditors Getting 70c In The Rand
On 28 March 2014, the Supreme Court of Appeal handed down judgment in Gavin Cecil Gainsford N.O. & others v Tanzer Transport Ltd & others.
South Africa
15 Apr 2014
14
Managing Risk Under Intellectual Property Licences
A lot is written about structuring robust intellectual property licensing programs, whether from the perspective of licensors or licensees of intellectual property rights.
South Africa
27 Mar 2014
15
Judgment Confirms Practice Of Advance Dividends In Insolvencies
The making of advance dividends before the confirmation of a liquidation and distribution account has been a longstanding insolvency practice.
South Africa
24 Mar 2014
16
Recent Developments In The De-Registration And Restoration Of Companies In Liquidation
In recent years, the Companies and Intellectual Properties Commission ("CIPC") (and its predecessor, the Companies and Intellectual Property Registration Office ("CIPRO")) has been carrying out mass de-registrations of companies and close corporations for failure to file their annual returns.
South Africa
6 Nov 2013
17
Fastest Competition Approval – Competition Tribunal Approves A Merger On Public Interest Grounds
The Competition Tribunal has recently heard and approved an acquisition by Stefanutti Stocks Proprietary Limited of all the assets which comprise the business carried out by Energotec, a division of First Strut Limited t/a the First Tech Group.
South Africa
30 Aug 2013
18
Court Rules On Suretyships And Business Rescue
ENS acted on behalf of Investec Bank Limited in an application for summary judgment against a defendant where the defendant had stood surety for the debts of certain companies.
South Africa
17 Nov 2011
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