Legal Articles and Guides

The Gauteng High Court (Pretoria) has ordered a provisional sequestration of a man who owes more than R500k in arrears maintenance to his former wife.

The ANC has been slapped with a summons to repay more than R3.6m it received from corruption-accused company Bosasa in the run-up to the 2014 national elections.

One of a Body Corporate’s fundamental duties is to collect monthly levies from the scheme’s members, and to take robust action to recover any arrears. As with any other creditor/debtor relationship however, trying to recover debt can be an exercise in frustration and delay, and the more recalcitrant the debtor, the greater the temptation to “go straight for the jugular” by applying to sequestrate the debtor’s estate.

Collapsed bitcoin scheme Mirror Trading International (MTI) was placed in final liquidation this week by the Western Cape High Court, according to Moneyweb.

The Eastern Cape High Court (East London) has ruled that the Rawlins Trust, which received about R300m from 991 individuals to invest in high-risk cryptocurrency – and reportedly lost up to R120m in the process – must be finally sequestrated.

Court papers filed by the liquidators for failed crypto scam Mirror Trading International (MTI) lift the curtain on one of the most extraordinary investment rip-offs in SA’s history, according to a Moneyweb report.

DearSA, an NGO formed to facilitate public participation in the legislature and policy making, has been rocked by allegations of fraud and mismanagement.

A black-owned supermarket group that has gone out of business has accused a Walmart-controlled company of crippling its once profitable operations.

The Western Cape High Court will only consider a bid to liquidate Steinhoff in September, the beleaguered company said in a statement yesterday, according to Fin24.

The SCA on Friday rejected an attempt by Gupta-owned Oakbay Investments to have the business rescue practitioners (BRPs) of another of the family's companies, Tegeta, removed.

Five aircraft, one car and 11 pieces of land were seized yesterday as the Asset Forfeiture Unit (AFU) in KZN swooped on an investment firm. The KZN High Court (Pietermaritzburg) granted the AFU a forfeiture order for the vehicles and property, worth R106m, against Coinit Trading and other liquidated entities, says a TimesLIVE report.

An inquiry funded by the Public Investment Corporation (PIC) to get to the bottom of a costly tie-up with a firm set up by two Americans has been indefinitely postponed, raising fears the fund may never find out what happened to the nearly R1bn loan advanced to the private equity outfit.

The former owners of Tekkie Town, which was acquired by Steinhoff in 2016, launched an application in the Western Cape High Court yesterday to liquidate the company.

Entities directly or indirectly controlled by businessman Iqbal Survé, who claims his companies are being discriminated against because they are black-owned, are facing a blizzard of legal proceedings launched by the Public Investment Corporation (PIC) to recover millions of rands in overdue loan repayments to the state-owned asset manager.

Former banker GT Ferreira is the latest Steinhoff claimant who is willing to accept 29c in the rand for his damages claim, Die Burger reports.