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Deloitte offers R1bn in Steinhoff ‘settlement’

By Daily News Published on Tuesday, 16 February 2021
Tags: #Company Law #Litigation
In a deal that could herald the end of one of Deloitte’s messiest chapters in SA, the global big four audit firm – accused of having failed to detect accounting fraud at Steinhoff – has offered more than R1bn to help its former client settle claims related to the scandal.

Another ruling against delinquent director Myeni

By Daily News Published on Tuesday, 16 February 2021
Tags: #Civil Rights #Company Law #Litigation
Former SAA chair Dudu Myeni has been dealt yet another blow in her attempts to halt the implementation of a ruling from 2020 which found her to be a delinquent director.

Another appraisal rights win for minority shareholders

By Daily News Published on Thursday, 11 February 2021
Tags: #Company Law #Litigation
Minority shareholders should not have to resort to legal action to get a company to buy back their shares at ‘fair value’ if it implements a significant transaction they oppose.

How does voluntary liquidation work in South Africa?

By Barnard Incorporated | Nihann van Rooyen | Published on Friday, 08 January 2021
Tags: #Company Law #Insolvency Law
The process of liquidation involves a company (or close corporation) ceasing all trading activities, selling its company assets and then distributing the proceeds to its creditors. There are two options for the voluntary winding-up of a solvent business.

Liquidation a step nearer for Gupta-linked firms

By Daily News Published on Wednesday, 25 November 2020
Tags: #Company Law #Insolvency Law #Litigation
Several companies owned by controversial Gupta lieutenants Eric Wood and Salim Essa are close to being liquidated after the Gauteng High Court (Johannesburg) ordered that they be treated as one entity before their winding down, says a Cape Times report.

Myeni's delinquent director challenge takes new shape

By Daily News Published on Thursday, 19 November 2020
Tags: #Company Law #Litigation
Former SAA chairperson Dudu Myeni is seeking leave to introduce new evidence pertaining to the testimony of the airline's former board member, Yakhe Kwinana, at the State Capture Inquiry.

Force majeure on the fringes of the pandemic lockdown

By Barnard Incorporated | Izak Viljoen | Published on Monday, 16 November 2020
Tags: #Business & Industry Law #Company Law #Litigation
The COVID-19 pandemic-induced lockdown in South Africa has brought the legal considerations of force majeure into sharp focus across multiple industries, particularly in engineering and construction circles.

Steinhoff gets lawsuits backing, but ...

By Daily News Published on Friday, 06 November 2020
Tags: #Company Law #Litigation
Steinhoff has been emboldened in its attempt to settle some 90 lawsuits for R18.7bn after all but one of its creditors voted in favour of a settlement, Die Burger reports.

Steinhoff, Pepkor win Tekkie Town battle in SCA

By Daily News Published on Friday, 23 October 2020
Tags: #Company Law #Litigation
The SCA has ruled in favour of Steinhoff and Pepkor in one of their legal battles with former Tekkie Town executives.

Myeni SCA appeal doomed to fail

By Daily News Published on Tuesday, 06 October 2020
Tags: #Company Law #Litigation
The appeal by disgraced former SAA chair Dudu Myeni against the order of Judge Ronel Tolmay in the Gauteng High Court (Pretoria) declaring her a delinquent director – on the basis that, among other reasons, it supposedly violated her constitutional rights – confirms Myeni has no idea of what the Companies Act expects of directors.

Myeni attacks judge in delinquent director appeal

By Daily News Published on Friday, 02 October 2020
Tags: #Company Law #Litigation
Former SAA chairperson Dudu Myeni has launched a blistering attack on the judge who declared her a delinquent director for life, arguing that there were many mistakes in the judgment, says a Daily Maverick report.

Directors, Trustees: Can You Hold Your AGMs and General Meetings on Zoom?

By Ashersons Attorneys Published on Friday, 04 September 2020
Tags: #Business & Industry Law #Company Law
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 General Meetings?

Wide discretion afforded BRPs under fire

By Daily News Published on Tuesday, 25 August 2020
Tags: #Company Law #Insolvency Law #Litigation
One of the liquidators of a former Gupta company has attacked the wide discretion afforded to business rescue practitioners (BRPs), in court papers supporting an application for the liquidation of the Optimum Coal Mine, says a Moneyweb report.

Bid to enforce Myeni delinquency order despite appeal

By Daily News Published on Friday, 17 July 2020
Tags: #Company Law #Litigation
The Organisation Undoing Tax Abuse (Outa) and the SAA Pilots' Association (Saapa) are asking the Gauteng High Court (Pretoria) for an order that its ruling in May, declaring Dudu Myeni as a delinquent director, be enforced despite the former SAA board chair's appeal.

Class action against Steinhoff dismissed

By Daily News Published on Monday, 29 June 2020
Tags: #Company Law #Litigation
Steinhoff International got some respite on Friday as the Gauteng High Court (Johannesburg) dismissed a local class action suit brought against the global retailer after an accounting crisis in late 2017 caused its share price to collapse.

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