by dev@dotnews.co.za | Apr 7, 2025 | Company / Corporate / Compliance, Debt Recovery
“He who is quick to borrow is slow to pay” (Old proverb) A High Court decision means that, for the first time, creditors of debtor companies are specifically cleared to apply for the company’s directors to be declared “delinquent” in certain circumstances. And that...
by dev@dotnews.co.za | Jan 16, 2025 | Company / Corporate / Compliance, Insolvency / Liquidation, Litigation
“Creditors have better memories than debtors” (Benjamin Franklin) Business rescue, often considered “corporate first aid” for struggling companies, is projected to rise significantly due to persistent economic challenges from unrest-induced financial losses. ...
by dev@dotnews.co.za | Jan 16, 2025 | Company / Corporate / Compliance
“To be prepared is half the victory.” (Miguel de Cervantes, author of Don Quixote) Perhaps you’re a director losing sleep over the risk of losing everything if creditors sue you personally for your company’s debts because you’re asset-rich, and they can’t squeeze...
by dev@dotnews.co.za | Jan 9, 2025 | Business, Business Rescue, Company / Corporate / Compliance
The business rescue provisions in the Companies Act are regarded as progressive and world class and there is evidence that it has worked well. Yet a 2016 survey showed that more distressed businesses opted for an informal approach and appear to be more successful than...
