Marius van Rensburg – Author INTRODUCTION Current economic conditions will likely lead to more property owners being in financial distress. This article will identify and explain the phases related to financially distressed sales. DISTRESSED SALES A distressed sale occurs where the seller must sell due to circumstances, such as impending repossession by the bank, a

By Kyle Venter, Candidate Attorney and Anja van Wijk, Senior Associate Introduction This article explores the legal implications of a recent notice gazetted by government on the 24th of March 2020. The notice comes in light of the recent developments unfolding in South Africa emanating from the COVID-19 outbreak, which has now been declared a

By Lisa Schmidt, Associate and Lauren Squier, Associate Designate Introduction The period of lockdown presently being experienced by South Africans in response to the COVID-19 pandemic has resulted in much confusion and alarm, not least of which amongst members and occupants of sectional title schemes. Many members of society are unsure or unaware of what

This article narrowly addresses the power of a business rescue practitioner (“BRP”) to suspend contractual obligations on the part of a distressed company. Readers are advised to consult section 136 of the Companies Act 71 of 2008 (“the Act”) in its entirety before taking any related steps. Once business rescue proceedings commence, all contracts to

        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

 By Partner Keane Robertson and Candidate Attorney Stefano de Gouveia      Introduction By now, it is common knowledge that the world stands united in facing the recently declared pandemic relating to the notorious coronavirus (“COVID-19”). Most important during these unprecedented times is the health of people and secondly, the health of businesses and the

By Charlotte Clarke, Associate and Frank Sebatana, Candidate Attorney   Background On the 5th of March 2020, the National Institute for Communicable Diseases confirmed the first case of COVID-19 in the Republic of South Africa. President Cyril Ramaphosa has since declared the outbreak of Covid-19 a national state of disaster in terms of the Disaster