Quick, affordable, flexible: how to resolve business disputes via the Companies Tribunal
One of the tribunal’s main functions is to serve as an alternative dispute resolution forum
One of the most difficult situations a business owner or shareholder can face in these tough economic times is a company dispute. When a company is involved in a court case, its productivity can be disrupted significantly. In addition, there is the anxiety associated with the thought of court litigation and financial and reputational risks. It also means managers will spend substantial amounts of time dealing with lawyers, the media and other litigation-related issues. The cost of productive time lost in this way is largely hidden, but it takes management’s attention away from core business issues. Businesses need quick, efficient, affordable and predictable ways to deal with such situations. In 2006, a study in the UK revealed that conflict in British business cost about £33bn (R596bn) a year. The costs associated with commercial disputes also go beyond litigation, as the process can involve time and resources invested over many years. In South Africa, the Companies Tribunal is ...
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