BONDHOLDERS: CAN YOUR DEBTOR DELAY LIQUIDATION?
Debtors faced with liquidation often ask their creditors for time to realise their assets “to best advantage” rather than by “forced sale”. But per a recent High Court decision, creditors are not obliged to wait. A property-owning company, defending itself against a liquidation application brought by the bondholder, was found to be “commercially insolvent” but […]
THE JULY WEBSITES: ARE YOU AN ENTREPRENEUR? AND 10 MISTAKES TO AVOID
“SMEs have been identified globally as the key drivers of creating wealth, reducing poverty and facilitating jobs. In South Africa, it is reported that SMEs contribute 40% of GDP and 60% of the workforce in formal employment.” (SAVCA – South African Venture Capital & Private Equity Association) In other words, we need every new entrepreneur […]
PLAGUED BY A STALKER? HARASSED? FIGHT BACK!
If you or your family are being harassed or stalked in any way, the new ‘Protection from Harassment Act’ has just handed you a new remedy. The Act promises quick, easy and affordable protection for your rights via an application to your local magistrates court for a “protection order” requiring the harasser to stop his/her […]
NEW RULES: WHO REPORTS YOUR INCOME TO THE TAXMAN?
“Third party reporting enables income tax returns to be pre-populated and helps SARS to verify accuracy of taxpayers’ disclosures.” (SARS) Be aware that SARS has a new information stream which it will use to cross-reference to information you supply, to pre-populate your tax returns, and (presumably) to check generally for compliance and for completeness of […]
THE AUGUST WEBSITES: APPS FOR EVERYTHING (AND HOW TO CHOOSE THEM)
Smartphones, tablets, mobile devices. They are the future of the Internet, and the exponential growth in the number of businesses and individuals using them means that – very shortly – that future will be here. You need to be part of it! And once you are the proud owner of your new device, you really […]
LEARNER DRIVERS – TOUGH REGULATIONS LOOM
If you don’t yet have a driver’s licence (and if you do, pass this warning on to any friends or family without one), apply as soon as you can. Proposed new Road Traffic Regulations – which could be implemented any time now – will radically toughen up the rules applying to provisional licence holders.The draft […]
DEBT COLLECTION ALERT! NEW NOTICE DELIVERY REQUIREMENTS
Credit Providers: Before you can sue on any credit agreement, you must “deliver” to the consumer a National Credit Act notice of default. There are several ways to accomplish “delivery”, and registered post is often chosen for its convenience and low cost. Until now, a registered slip from the Post Office has generally been enough […]
YOUR SALE AGREEMENT
A purchaser or seller’s failure to comply with the many formal requirements relating to agreements for the sale of immovable property will render such agreements invalid! This is equally true when the agreement appears to be enforceable on the face of it. In other words, even when things seem certain, they can still go horribly […]
PAYING IN ADVANCE: THE PERILS
Be very careful indeed when a supplier requires you to make an advance payment, in part or full, for goods or services yet to be supplied. Firstly, you damage your negotiating position should disputes arise. The old adage “Possession is nine-tenths of the law” may not be literally true in the legal sense, but in […]
PREGNANT, UNMARRIED – AND DISMISSED
“There are 368 000 women between the ages of 15 and 21 with a baby under the age of two. 88% of them are single. (AMPS 2011)” – Eighty20’s Fact-a-Day at http://www.eighty20.co.za/blog/. Dismissal of an employee for any reason relating to her pregnancy is automatically unfair, and exposes the employer to a potential compensation award […]