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Top court asked to intervene on SA Express

By Daily News Published on Friday, 30 April 2021
Tags: #Aviation Law #Insolvency Law #Litigation
The National Union of Metalworkers and the SA Cabin Crew Association intend asking the Constitutional Court to compel the National Assembly to debate whether state-owned regional airline SA Express should be permitted to go insolvent, says a Fin24 report.

Rolls-Royce added to SAA claimants

By Daily News Published on Wednesday, 28 April 2021
Tags: #Insolvency Law
An amendment has been made to an annexure of the rescue plan of SAA, with Rolls-Royce added to the list of lessors and their claims.

Missing CEO's estate provisionally sequestrated

By Daily News Published on Thursday, 22 April 2021
Tags: #Business & Industry Law #Insolvency Law
Four months after he disappeared, the estate of missing Mirror Trading International (MTI) CEO Johann Steynberg has been provisionally sequestrated.

Guptas take battle with BRPs to top court

By Daily News Published on Thursday, 08 April 2021
Tags: #Company Law #Insolvency Law #Litigation
The Gupta family have turned to the Constitutional Court in a bid to wrest control of some of their biggest companies from the hands of business rescue practitioners (BRPs) – who they have accused of maliciously implicating them in criminal conduct, according to a News24 report.

Vital Government Gazette notices hit by 'technical glitch'

By Daily News Published on Tuesday, 06 April 2021
Tags: #Business & Industry Law #General Legal Practice #Insolvency Law
Legal practitioners have lamented a ‘technical glitch’ that resulted in the government printers not confirming with customers when an advert will appear for publication in the Government Gazette, says a Business Day report.

VBS depositors have three months to collect R100 000

By Daily News Published on Tuesday, 06 April 2021
Tags: #Banking & Finance Law #Insolvency Law
VBS Mutual Bank has completed the transfer of guaranteed retail deposits to Nedbank, giving depositors little more than three months to collect money guaranteed to them based on an agreement between relevant authorities, says a BusinessLIVE report.

Free State Premier's assets attached

By Daily News Published on Wednesday, 31 March 2021
Tags: #Insolvency Law #Litigation
Free State Premier Sisi Ntombela described the attachment by a sheriff of five cars and movable assets at her house as ‘political games’, Volksblad reports.

Increased liquidations the tip of the iceberg

By Daily News Published on Tuesday, 30 March 2021
Tags: #Business & Industry Law #Insolvency Law
The hospitality industry has warned that official liquidation figures of the economic impact of Covid-19 and lockdown have been described ‘as the tip of the iceberg’, says a report in The Mercury.

MTI opposes final liquidation

By Daily News Published on Tuesday, 02 March 2021
Tags: #Criminal Law #Insolvency Law #Litigation
Mirror Trading International (MTI), suspected of fleecing investors of up to R8bn, put a spanner in the works by informing the Western Cape High Court that the company is opposing a final liquidation.

Ngonyama moves to stop payout to Watson 'front'

By Daily News Published on Monday, 01 March 2021
Tags: #Insolvency Law #Litigation
Investor and SA’s ambassador to Japan, Smuts Ngonyama, has obtained an interim interdict to stop the payment of about R6.8m in dividends to a company in the Bosasa group that he has accused of BEE fronting.

Paarl companies issued with provisional winding-up order

By Daily News Published on Friday, 19 February 2021
Tags: #Insolvency Law #Litigation
The Western Cape High Court has issued provisional winding-up orders against two companies owned by Paarl businessman Gerhard Meyer.

Attorney defends Sharemax against Ponzi claims

By Daily News Published on Thursday, 11 February 2021
Tags: #Criminal Law #Insolvency Law #Litigation
Weavind & Weavind director Eckaard Le Roux, the attorney for Sharemax, has refuted suggestions that the property syndication company was a Ponzi or pyramid scheme, notes a Moneyweb report.

Judgment reserved on SAA settlement dispute

By Daily News Published on Tuesday, 02 February 2021
Tags: #Employment and Labour Law #Insolvency Law #Litigation
The Labour Appeal Court has reserved judgment after hearing arguments on behalf of the National Union of Metalworkers (Numsa) and the SA Cabin Crew Association (Sacca) to have the SAA settlement agreement declared unlawful or unfair, notes a Moneyweb report.

Pandemic puts Ster-Kinekor in business rescue

By Daily News Published on Monday, 01 February 2021
Tags: #Insolvency Law
Ster-Kinekor Theatres, SA’s largest cinema chain, has entered business rescue, notes a Moneyweb report.

117 000 invested in bitcoin scheme that flopped

By Daily News Published on Friday, 22 January 2021
Tags: #Criminal Law #Insolvency Law #Science & Technology Law
It is likely that up to 117 000 investors poured money into the collapsed Mirror Trading International (MTI) investment scheme, Die Burger reports.

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