Business Litigation: Unpacking the Dreaded Term… Debt Collection
It is not uncommon for businesses to sell goods or services to consumers on credit. However, once a consumer has accepted a credit agreement, they become liable for the payment of that debt, usually by way of monthly instalments. Therefore, when a consumer defaults on...
What to do when the Liquidator Comes Knocking…
If you are approached by a liquidator wishing to claim back money paid to you by a provisionally liquidated business, what are your options? At the time of making the payment in this instance, the businesses liabilities exceeded its assets and the payment made to you...
Ways in which businesses can approach the uncertainty of different majorities required in order to amend a business rescue plan (‘BRP), or to adjourn a meeting concerning a BRP:
Section 151 of the Companies Act 71 of 2008 requires a business rescue practitioner to convene and preside over a meeting of creditors within 10 days after publication of the proposed BRP – in order to adequately consider the BRP. However, the Companies Act then...
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