The Phatshoane Henney Group – South Africa’s largest legal network – established specific Group BEE Standards in 2015 as part of the Group’s commitment to transformation and diversity. Every two years, progress by Group firms in advancing transformation is measured against these standards across the entire Group and consolidated in a Group Transformation Report for the period in review. With Group firms spending in excess of R400 million on BEE and transformation during 2018 and 2019, this Group Transformation Report for the periods 2018 and 2019, confirms the substantial progress being made across the Group in advancing transformation and shows how the Group sets the standard for transformation in the legal industry.
The implications of a waiver of rights by directors
The Supreme Court of Appeal (“SCA”) recently handed down a judgement in what has been cited as a ‘landmark case’ in respect of the waiver of directors’ rights and the impact of such waiver on a company. In this article, we look at what a ‘waiver’ of rights in terms of a contract entails and what the effect of such a waiver by directors may have on a company, specifically concerning debts owed to the company.
