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Can a body corporate accept less than full outstanding levies?

19 May 2022

The recent Covid-pandemic has affected many people financially and body corporates are also regularly confronted with owners that fall behind... in their levies and receive requests for reduced payments. But, can a body corporate just accommodate such requests and settle for a lower amount or write off arrear levies?

315

Article

Good corporate governance just makes business sense

19 May 2022

With the business world seeming to move faster and faster and companies apparently only interested in increasing their profits, it... can be easy to think your company only has one goal, namely to make money. But is this true? Are companies expected to live up to a higher standard, and if so, does it make business sense to do so? In this article we take a look at corporate governance practices and what this means for a company.

305

Article

When must a director disclose a financial interest?

08 February 2022

Being a director in a company does not necessarily stop you from holding shares in other companies. However, should your... company transact with another company in which you have a shareholding stake and from which you could potentially benefit, it becomes important that you disclose such financial interest to your co-directors, even if you can’t influence the transaction.

380

Article

How long is a proxy valid for?

14 September 2021

I was recently appointed as a proxy to represent a shareholder at an upcoming shareholders meeting. Unfortunately, the meeting has... been rescheduled two months later, and I was wondering if the proxy will still be valid then or would I need to have a new proxy issued by the shareholder for the meeting?

347

Article

The rights of a dissenting shareholder in a scheme of arrangement

10 November 2020

I’m a minority shareholder in a company that has been approached by a buyer willing to buy out all the... shareholders. Because of Covid-19 the company has suffered financially and I know that the shareholders holding more than 75% of the company will want to accept the offer even though I believe it to be far below the market value of the shares. Is there any remedy at my disposal?

393

Article

Can a close corporation go under business rescue?

10 June 2020

I have a construction business that is operated in a close corporation. As we have not had much work during... the last few months, my business has come under severe financial pressure. I still believe in the business and know things will pick up again, but right now we just don’t have the cashflow to pay our creditors. I’m considering business rescue but am unsure whether that option is available seeing as my business is a close corporation?

325

Article