by VDT Attorneys | Jun 6, 2024 | Business Rescue, Dismissal, Labour law, Unfair Dismissal
The Companies Act 71 of 2008 places a moratorium on legal proceedings against companies undergoing business rescue. In terms thereof, no legal proceeding may be commenced or proceeded within any forum against a company which has entered into business rescue...
by VDT Attorneys | Aug 8, 2018 | Business, Business Rescue, Commercial, Company, Director, Insolvency, Shares
The short answer to this question is no. Your company creditors should not be able to come after you personally. But, this is a qualified no. At the core of our company law is the concept of limited liability which implies that the shareholders and directors of the...
by VDT Attorneys | Aug 9, 2017 | Business, Business Rescue
In difficult economic times, many companies are having to come to terms with making tough financial decisions. Filing for liquidation, has in the past been a route considered by many companies. The Companies Act 71 of 2008 (“Companies Act”), introduced another...
by VDT Attorneys | Jan 12, 2015 | Business Rescue
Business rescue was introduced by the Companies Act 71 of 2008 (“the Act”) which came into operation in May 2011. It is a relatively new concept with many of the nuances of the process still being developed and refined by our courts. In this article we will look at...
by VDT Attorneys | Nov 22, 2013 | Business Rescue, Corporate
The Companies Act has provided companies (and closed corporations) the opportunity to save their business and avoid liquidation by implementing business rescue proceedings. These are proceedings aimed at facilitating the rehabilitation of a company that is in...
by VDT Attorneys | Oct 25, 2012 | Business, Business Rescue
A few years ago, Peter’s father brought in investors as shareholders into the family company to provide much needed capital to finance the purchase of the current warehouse. Concerned about the death of Peter’s father, these investors are now clamouring for returns on...
