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…
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…
There has always been a significant inefficiency in how banks respond to customer complaints, especially on social media platforms. However, COVID-19 highlighted or even increased this social distance between banks…
Businesses go through an ebb and flow of cash flow circumstances. Some months they are liquid enough to satisfy their creditors and during others, they struggle to make all payments…
A partnership is a business relationship which is potentially more binding and sometimes much more all-consuming than that of a marriage. Partnerships may take many different forms, but the underlying…
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…
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…
The court of first instance in Richter v ABSA Bank Limited SCA (unreported case no 20181/2014, 1-6-2015) held that it is not possible to apply for business rescue after a…
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