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During business rescue there is a temporary moratorium on the rights of claimants against a company and its affairs are restructured through the development of a business rescue plan aimed at continuing the company in operation on a solvent basis, or if that is unattainable, leading to a better result for the company's creditors and […]
The phrase “binding offer” as set out in s153 of the Companies Act, 71 of 2008 (the Act) has led to much confusion and debate since the coming into operation of the Act in 2011, and there have been diverging interpretations of the phrase in different divisions of the High Court . If a business […]
A court ruling by Cape Town Judge Dennis Davis in the case of Combined Developers v Arun Holdings & Others (6105/2013) [2013] ZAWCHC 132 has raised concern for financial lenders across the country as to the validity of acceleration clauses in loan agreements. Acceleration clauses provide comfort to lenders, affording them the right to call […]
The Cox Yeats Insolvency Team Introducing new additions to our Insolvency Team….. Cox Yeats is pleased to advise that Callyn Wilkinson has recently joined the firm as a partner in the insolvency team. Callyn obtained her LL.B from the University of KwaZuluNatal in 2005. After travelling in the United Kingdom, she completed her […]
