Shareholders’ rights during Business Rescue proceedings.

By Mohau Ledwaba, Associate and Stefano de Gouveia and Candidate Attorney Introduction Business rescue is regulated by Chapter 6 of the Companies Act 71 of 2008 (the “Act”) with the aim to facilitate the rehabilitation of a company from what the Act defines as being financially distressed, as an alternative to liquidation, for a better
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INCOME PROTECTION POLICIES AND COVID-19

By Justin Sloane, Partner & Tayla Bruce and Candidate Attorney INTRODUCTION COVID-19’s hard-hitting economic impact is bound to place an insurmountable number of jobs and livelihoods at risk. Individuals may fall ill during this time, be made redundant by their employer, or fall victim to their business having to close down. All of these options
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COVID-19: Temporary Impossibility of Performance and the Reciprocal Obligation for Payment

Written by Wade Jacobs – Candidate AttorneyContributors: Charlotte Clarke – Senior Associate and Wesley Pons – Associate INTRODUCTION COVID-19 has resulted in a national lockdown, having consequences on the performance of contractual obligations, where parties to reciprocal agreements are unable to meet their obligations to one another, resulting in a temporary impossibility of performance. In
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Merchant West Capital Solutions (Pty) Ltd v SAPPI Southern Africa (Pty) Ltd and Others (12395/2017) [2020] ZAGPJHC 50 (17 January 2020)

BACKGROUND The First and Fourth Defendants entered into a service level agreement (“SLA”), in terms of which the Fourth Defendant was to render certain services to the First Defendant. The Fourth Defendant would present invoices to the First Defendant for payment for services rendered. On 14 March 2012, 26 June 2012 and 13 June 2013,
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McNair v Crossman and Another (A5023/18) [2019] ZAGPJHC 298; 2020 (1) SA 192 (GJ) (5 September 2019).

BACKGROUND The Appellant in this case is Gillian McNair, the former wife of the late Steven McNair (the “Deceased”). The Deceased, prior to his death, registered the McNair Family Trust (the “Trust”) nominating his wife and children as beneficiaries of the Trust. While the Deceased was alive, the trustees were the Deceased, the Appellant and
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10 Frequently Asked Questions About Business Rescue

        1    What is Business Rescue?   Business Rescue proceedings are proceedings aimed to facilitate the rehabilitation of a company that is financially distressed, by providing for:   the temporary supervision of the company, and the management of its affairs, business and property by a Business Rescue Practitioner; a temporary moratorium
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Interactive Trading 115 CC and Another v South African Securitisation Programme and Others (2119/2017) [2019] ZALMPPHC 10; 2019 (5) SA 174 (LP) (29 March 2019)

SUMMARY This is an application for rescission of judgment wherein Interactive Trading 115 CC (the “First Applicant”) and Barend Stephanus Schempers (the “Second Applicant”) (the “Applicants”) sought to rescind a judgment which was granted in default against them on 21 December 2017 and later varied on 05 June 2018. Both the main judgment and the
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Nativa Manufacturing (Pty) Ltd v Keymax Investments 125 (Pty) Ltd 2020 (1) SA 235 (GP)

SUMMARY The Applicant (“Nativa”) seeks to join the Third Respondent (“Marce”) as third defendant in an action for damages allegedly suffered by Nativa as a result of a fire that broke out on commercial premises owned by the First Respondent (“Keymax”). Nativa leased a unit from Keymax for the purposes of packaging pharmaceutical materials. The
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South African Reserve Bank v Bank of Baroda (South Africa) 2019 (6) SA 174 (GP) (2 April 2019)

BACKGROUND This matter followed an on-site inspection by the South African Reserve Bank (the “Appellant”) into the financial undertakings of the Indian-based financial institution, Bank of Baroda South Africa (the “Respondent”). The Respondent was the only bank willing to take on the infamous Gupta-family business accounts after these accounts were closed by South Africa’s major
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Airports Company South Africa SOC Ltd v Imperial Group Ltd and Others (1306/18) [2020] ZASCA 2 (31 January 2020).

SUMMARY The Appellant, Airports Company South Africa Soc Ltd (ACSA), published a Request for Bids (RFB) on 5 September 2017, in terms of which members of the public were invited to submit bids for the hiring of 71 car rental kiosks and parking bays at nine airports operated by ACSA.   The Respondent, Imperial Group
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