It’s all systems go for the new retirement system, which allows employees to draw from their pension funds without the same penalties as before
The shoe is now on the other foot for southern EU states, with winter approaching and war next door
SA needs a new brand of leaders, says Randall Carolissen
Researchers have found that 96% of global health conferences happen in high- or middle-income countries. Fewer than four in 10 attendees at these gatherings are from poorer nations that have the ...
A new precinct planned around the high court in Joburg is yet another plan to fix the decayed CBD. But can this work, where previous plans haven’t? And can it really lure the lawyers back from ...
Nearly two years ago, in November 2016, the high court in Pretoria rejected an application from the SA Property Owners’ Association to amend the Companies Act to give landlords preference over other creditors in business rescue proceedings.
Now, the first substantial amendments to the Companies Act since it was implemented in 2011, released for comment at the end of September, include a proposal that would give landlords the very rights that were strongly rejected by the high court.
In a nutshell, that high court action was geared at ensuring that rental costs — often including rates, water and electricity — incurred when a company is in business rescue are covered ahead of the claims of other creditors.
But if the new Companies Act amendments are accepted, it could up-end the business rescue process, introduced in 2011.
"This opens the door to all the other suppliers who will demand the same sort of preferential rights," says one legislator. For one thing, he argues, the proposed a...
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email email@example.com or call 0860 52 52 00. Got a subscription voucher? Redeem it now
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.