Section 45 of the Companies Act 71 of 2008 (Companies Act), does not expressly define financial assistance but rather sets out a list including lending money, guaranteeing any debt or obligation, but has a number of...more
On 13 December 2022, the South African Supreme Court of Appeal ("SCA") delivered its judgment in Constantia Insurance Company Limited v The Master of the High Court, Johannesburg and Others (512/2021) [2022] ZASCA 179...more
It’s an open secret that the commendable goals envisaged by the legislature with the introduction of the business rescue proceedings in Chapter 6 of our Companies Act are being hampered as a result of poorly drafted statutory...more
It is not uncommon for a target company to bear the legal costs incurred by its shareholders in respect of a sale of its shares. On face value, this practice appears benign. However, an analysis reveals that this may fall...more