Running a business is exciting, but there are also risks involved. One major concern is “reckless trading,” which can land directors in hot water. Here’s a breakdown of what it…
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We are all in the business of selling goods, services or both. In all respects, business owners invest in supplies and/or people. These goods and services are then sold to…
Although it is always a good idea to save up and buy goods for cash, this is not always possible. Most of life’s biggest expenses are things most people can…
It has become usual when scrolling through social media platforms to come across messages or posts like “do you know you can make R2000 a day, ask me how”. What’s…
More and more people have been signing up for Debt Review over the last couple of years, especially since GDP growth dropped to 2.0% in 2022 from 4.9% in 2021,…
The current economic climate is filled with challenges, pitfalls and the inevitable unequal bargaining powers of the haves and have-nots. It is common knowledge that the National Credit Act 34…
The Insolvency Act 24 of 1936 (“Act”) in its Section 8 provides for 8 acts of insolvency which are listed below. The word “debtor” is defined in the Act as…
A garnishee order is an order made by the court for the attachment of a debt that is owed to a creditor. For example, it is the debt owed on…
Voluntary liquidation is a mechanism within South African insolvency law that allows a business that faces financial difficulties to find relief. This is where an application is made to the…
In the day and age of constant and rapid economic ups and downs, the possibility of insolvency is high, especially in light of recent global events. The insolvency process is…
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