Debtor not paying? Consider a liquidation application
“When debtors once have borrowed all we have to lend, they are very apt to grow shy of their creditors’ company” (John Vanbrugh) Bad debt is a major issue for many businesses in these hard economic times – not taking robust steps to collect it could be fatal to your own financial position. So if […]
When company directors and shareholders come to blows…
“…the mere exercise of majority shareholding voting rights does not amount to oppression…” (extract from judgment below) What happens when a company’s directors and shareholders fall out and cannot reconcile their differences? “Relief from oppressive or prejudicial conduct” If you should find yourself in such an unfortunate situation, our Companies Act offers you several possible […]
Can an employee who refuses vaccination be fired?
Most of us will celebrate the day we are offered a COVID-19 vaccination, but here in South Africa as overseas it seems inevitable that a significant number of people will refuse to be vaccinated. The reasons given for this stance have been many and varied, some mainstream and reasonable, others less so. Perhaps some of […]
Directors, Trustees: Can you hold your AGMs and General Meetings on Zoom?
Regrettably the pandemic still shows no sign of going away any time soon, and the social distancing it has brought to our “new normal” leaves companies with a dilemma. How can you comply – safely and lawfully – with the Companies Act’s stringent requirements for the holding of Annual General Meetings and (where needed) interim […]
STARTING A BUSINESS IN 2016? 3 STEPS TO GET YOU GOING
“In the middle of difficulty lies opportunity” (Albert Einstein) It seems as though 2016 has a rough ride in store for us but as the wise old saying has it: “Fortune favours the brave”. Just remember to mix a good dose of realism in with the bravery. That said, if you’ve been sitting on a […]
PAIA MANUALS: ANOTHER LAST MINUTE EXTENSION
“Procrastination is the thief of time” (Edward Young, 18th c. poet) If your business is one of those (mostly smaller – see below) businesses temporarily exempted from lodging your PAIA manual until 31 December 2015, you will be happy to hear that the pressure is off for another 5 years, and that the turnover thresholds […]
LANDLORDS – KNOW YOUR RIGHTS IN BUSINESS RESCUE
Our business rescue legislation aims to save, wherever possible, any company in financial difficulty from total collapse and liquidation. So for example the BRP (Business Rescue Practitioner) appointed to run the rescue process has the power to suspend any of the company’s obligations for the duration of the process. Moreover as a creditor you cannot […]
WHEN CIPC DEREGISTERS YOUR COMPANY …
If, for whatever reason, the Companies and Intellectual Property Commission (CIPC) did not receive your company (or CC)’s annual return on due date, it will assume that the company is inactive and will start the deregistration process – the legal effect of which is that the company ceases to exist. Deregistration is disastrous That has […]
BUREAUCRATS AND BRICK WALLS: FIGHT BACK!
“Bureaucracies are inherently antidemocratic. Bureaucrats derive their power from their position in the structure, not from their relations with the people they are supposed to serve” (Alan Keyes, American politician) Fighting red tape is a growing problem worldwide, and we South Africans are certainly not immune. We should welcome therefore two recent court decisions which […]
DIRECTORS: ENVIRONMENTAL LAW AND YOUR INCREASED PERSONAL LIABILITY RISK
Government and our courts are serious about protecting the environment, and NEMA (the National Environmental Management Act) is being strictly enforced. A new amendment to NEMA provides that directors (and members of CCs) are now jointly and severally liable “for any negative impact on the environment, whether advertently or inadvertently caused by the company or […]