Since the dawn of democracy, South Africa has built for itself a solid reputation of being the most diversified and industrialised economy in Africa, making it the obvious destination for investors looking to do business […]
There has been a lot of reference to the tough economic climate that South African companies are facing. These questions were unpacked in a recent report by the Companies and Intellectual Property Commission (CIPC), which […]
DeepSeek, a prominent competitor in the artificial intelligence (AI) marketplace, recently faced a significant security incident when an unsecured ClickHouse database exposed over a million lines of sensitive information, including chat histories, secret keys and […]
In my analysis of informal workouts and business rescue, some of the usual suspects made their appearance: The role of directors, solvency and liquidity, the importance of communication, and fair and equitable treatment of stakeholders. […]
The Companies Amendment Act 16 of 2024 (First Amendment Act) and the Companies Second Amendment Act 17 of 2024 (Second Amendment Act) (collectively, the Amendment Acts) were signed into law on 26 July 2024, amending […]
One of the most overused phrases, or most common gripes, that BRPs hear from financially distressed companies is: the world of business has changed; we have been forced to throw out the rulebook. While sympathetic […]
In the recent judgment of Sundays River Citrus Company (Pty) Ltd and Others v Lonetree Citrus CC and Others [2024] JDR 4087 (ECG), the court clarified and confirmed three key questions regarding business rescue (BR) […]
The Supreme Court of Appeal (SCA) in Mashwayi Projects (Pty) Ltd v Wescoal Mining (Pty) Ltd has delivered a significant ruling confirming that post-commencement finance (PCF) providers have a voting interest in business rescue proceedings. […]
The South African Companies Act 71 of 2008 (Companies Act) provides a framework for business rescue proceedings, aimed at rehabilitating financially distressed companies. Sections 154(1) and 154(2) of the act are particularly significant as they […]
Happy New Year to all. GCS hopes that this will be an exciting and productive year for every company in South Africa and that the country can continue to be a beacon of hope for […]
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