Legal Articles and Guides
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.
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.
Four months after he disappeared, the estate of missing Mirror Trading International (MTI) CEO Johann Steynberg has been provisionally sequestrated.
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.
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 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 Sisi Ntombela described the attachment by a sheriff of five cars and movable assets at her house as ‘political games’, Volksblad reports.
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.
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.
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.
The Western Cape High Court has issued provisional winding-up orders against two companies owned by Paarl businessman Gerhard Meyer.
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.
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.
Ster-Kinekor Theatres, SA’s largest cinema chain, has entered business rescue, notes a Moneyweb report.
It is likely that up to 117 000 investors poured money into the collapsed Mirror Trading International (MTI) investment scheme, Die Burger reports.