by VDT Attorneys | Sep 2, 2024 | Debt, Director, Waiver of Rights
In the matter of Phoenix Salt Industries (Pty) Ltd v The Lubavitch Foundation of South Africa (330/2023) [2024] ZASCA 107 (3 July 2024) (hereinafter referred to as the “Phoenix case”), the court had to determine if former directors could waive their right to reclaim...
by VDT Attorneys | May 2, 2024 | Debt, Guarantee, Security, Suretyship
A suretyship and guarantee are concepts that are often used interchangeably given the perception that they are essentially the same. But that is not the case. Typically, these forms of security find applications where money is borrowed and the resultant debt is to be...
by VDT Attorneys | Jul 26, 2023 | Debt, Tax
The conversion or exchange of debt into shares is called a concession or compromise. This means that where a debt is converted or exchanged for inadequate consideration, the resultant concession or compromise may amount to a debt benefit. The tax that will be...
by VDT Attorneys | Feb 8, 2022 | Debt, Debt Collection, Dispute resolution
To answer your question we must turn to the National Credit Act 34 of 2005 (“NCA”). The NCA allows the person that is owed money (the creditor) to, in terms of a credit agreement, levy additional amounts over and above the amount that is owed, such as interest, fees,...
by VDT Attorneys | Feb 25, 2020 | Debt, Debt Collection, Eviction
Uitwinning deur skuldeisers is in vandag se ekonomiese klimaat ‘n toenemende realiteit. Enslin Nel verduidelik wat die regsposisie van boere is rakende die hantering van die uitdaging in hierdie regstreekse uitsending van GROOTplaas op kykNET. Onderhoud datum:...
by VDT Attorneys | Oct 7, 2016 | Collections, Debt, Litigation
It is not correct that attachment orders, or legally more correct, emolument attachment orders (“EAO’s”), against your salary (generally, however incorrectly, referred to as ‘garnishee orders’) are no longer allowed and that these orders will now immediately be...
